Johnson Controls finalizes $6.3M investment in Azure Dynamics

Thursday, June 24, 2010 | Source: metromode
Azure Dynamics, a manufacturer of electric commercial vehicles, is riding high after finalizing a $6.3 million equity investment from Johnson Controls.

The Oak Park-based firm will use the cash to fund ongoing product development and commercialization efforts. The company makes award-winning commercial vehicles, such as the Ford Transit Connect.

Successes like this have allowed Azure Dynamics to expand to 135 employees, including 39 in its Metro Detroit office. The company has added 19 new jobs in the last year and has four open positions right now.

"Depending on how things go with our new products, we could add more," says Curt Huston, COO of Azure Dynamics.

Azure Dynamics makes the electric version of the Transit Connect. It expects to manufacture between 1,000 and 2,000 vehicles next year, thanks to winning awards like Truck of the Year at the 2010 North American International Auto Show in Detroit. The 22-year-old firm has roots in British Columbia. It moved its headquarters from Toronto to Metro Detroit a few years ago.

Source: Curt Huston, COO of Azure Dynamics
Writer: Jon Zemke
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Automotive, Oakland County, Sustainability 

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