March 31, 2006, Bellevue, Washington PACCAR has targeted an ambitious goal of 30 percent improvement in vehicle fuel efficiency for selected medium-duty applications over the next seven years utilizing hybrid technology as a key contributor to achieving this objective, said Mark C. Pigott, PACCAR chairman and chief executive officer. PACCARs comprehensive global hybrid program is aimed at commercializing energy management systems that provide benefits to both our customers and the environment.
Hybrid power systems consist of an electric motor generator and onboard energy storage system. Power from the engine is used to drive the vehicle directly or to charge the storage device. Hybrid power systems provide maximum fuel savings in applications where frequent braking and acceleration is required, such as local delivery and vocational applications. Customers also benefit from lower maintenance costs due to reduced wear on the braking system.
Availability of hybrid-powered PACCAR trucks is targeted for 2008 in defined medium-duty applications, said Jim Cardillo, PACCAR senior vice president. PACCARs premium vehicles and technology leadership worldwide will deliver cost-effective solutions that provide significant value to our customers. PACCAR design engineers are working with Eatons Hybrid Power Systems business unit to advance the companys hybrid leadership position. Were thrilled to be a part of PACCARs pioneering efforts in developing hybrid power systems, and we look forward to delivering hybrid vehicles in selected applications in 2008, added Jim Sweetnam, senior vice president and president of Eatons Truck Group.
In over-the-road applications, hybrid power systems store energy to be used while the vehicles are stationery. PACCARs innovative onboard energy management systems will reduce vehicle idling time to further enhance operating efficiency and contribute to achieving customers fuel economy objectives, said Tom Plimpton, PACCAR president. The Kenworth Clean Power and Peterbilt Comfort Class systems are scheduled for release in 2007 and maintain the vehicles cabin temperatures at comfortable levels and provide power to operate other cab electrical systems without running the engine. Based on the national average of 1,850 idling hours per year for an over-the-road Class 8 vehicle, the system provides the potential for an eight percent improvement in fuel efficiency, worth several thousand dollars per vehicle each year.
PACCAR was recently awarded the National Medal of Technology, the nations highest award for innovation, based on its leadership in the use of lightweight materials and aerodynamic-efficient designs. Continuing the companys innovation leadership, PACCAR engineers at its technical centers are utilizing sophisticated simulation technologies and rapid prototyping processes to develop several hybrid vehicle platforms across a variety of applications.
PACCAR is a $14.1 billion global technology leader in the design, manufacture and customer support of high-quality light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates. It also provides financial services and information technology and distributes truck parts related to its principal business. PACCAR shares are traded on the Nasdaq Stock Market, symbol PCAR, and its homepage can be found at www.paccar.com.
PACCARs onboard energy management systems are being developed for its premium vehicles, such as the new aerodynamic Peterbilt 386 pictured above.