Bjorn Ahlstrom, Retired Chairman of Volvo Group North America, Inc., to Be Enova's Newest Board Member
TORRANCE, Calif.--June 2, 2004--Enova Systems (OTCBB: ENVA), Torrance, California, announced today that Mr. Bjorn Ahlstrom has been elected to Enova Systems' Board of Directors."I am proud to have been elected to the Board of Enova Systems," commented Mr. Ahlstrom. "Enova's growth strategy in the nascent hybrid drive market is very exciting and, I believe, presents many opportunities to capture global business across many heavy-duty sectors. I look forward to working with the other board members and management to assist Enova in realizing its potential."
Bjorn Ahlstrom has been a major player in the automotive and transportation industry for over 30 years. Mr. Ahlstrom retired as Chairman of Volvo Group North America, Inc. in April 2004. Previously, Mr. Ahlstrom was President and Chief Executive Officer of Volvo North America Corporation from 1971 until 1994. During this term, Volvo North America Corporation owned and operated Volvo's businesses in the United States and Canada. Under Mr. Ahlstrom's leadership, Volvo North America Corporation grew from a US$ $50 million car importer in the early 1970s to a US$ $6 billion company with manufacturing and marketing operations for cars, trucks, marine engines, and financial services. In 1981, Mr. Ahlstrom received the Royal Order of the North Star from King Carl XVI Gustaf of Sweden. The United States Government awarded him the Medal of Peace and Commerce in 1983. He received the Ellis Island Medal of Honor in 1990.
"The board, management and all the employees at Enova welcome Bjorn Ahlstrom to our company," remarked Anthony Rawlinson, Chairman of Enova's Board of Directors. "We are honored to have a man of such reputation and experience join our team. I believe Bjorn's acceptance of the position is a testament to the strength of Enova and the Company's growing leadership position, particularly in the nascent hybrid-electric drive market."
Carl Dean Perry, President and CEO, stated, "These are very exciting times for Enova Systems as the world embraces hybrid-electric and fuel cell hybrid systems for transportation and stationary distributed generation applications. Bjorn's leadership and vision in the global automotive industry will provide an outstanding contribution to Enova in achieving our strategic goals."
About Enova Systems, Inc.
Enova Systems develops and produces advanced software, firmware and hardware for applications in the growing alternative power industry. The Company's focus is digital power conversion, power management, and system integration, for two broad market applications -- vehicle power generation and stationary power generation. The Company develops, designs and produces drive systems and related components for electric, hybrid-electric, and fuel cell powered vehicles. For further information, contact Enova Systems directly, or visit its Web site at http://www.enovasystems.com