Ford Motor Company Statement on Proposed Congressional Automotive Industry Bill

DEARBORN, Mich., Dec. 8 /PRNewswire-FirstCall/ — As we told Congress,
Ford (NYSE: F) is in a different position. We do not face a near-term
liquidity issue, and we will not be seeking a short term bridge loan. But
Ford fully supports an effort to address the near-term liquidity issues of GM
and Chrysler, as our industry is highly interdependent and a failure of one of
our competitors could affect us all.

Pelosi: If Automakers Don’t Meet Conditions of Restructuring, There is Not Going to Be an Endless Flow of Money

WASHINGTON, Dec. 8 /PRNewswire-USNewswire/ — Speaker Nancy Pelosi and Chairman Barney Frank of the House Financial Services Committee held a press availability in the Capitol late this afternoon on the aid package to the auto industry. Below are the Speaker’s opening remarks:

“Good afternoon, thank you for joining us. We are, as you know, in conversations about how we go forward with the package for the auto industry that produces, at the end of the day, and that means very soon, a viable plan for our country.

“It is an interest that is important to our economy, to our industrial base, the workforce concerns that are important to our country. We want to be able to review the performance of the auto companies as we go forward. In order to do that, it is important for us to pass legislation that will set criteria for restructuring and reorganization of that industry and the companies within it.

“It is important to note that unless the restructuring that is called for in this legislation and the goal of viability is achieved by March 31, there is no justification for spending any more taxpayer dollars. Now it has been said this is a loan of $15 billion because it’s for a different purpose than under Section 136; 136 is for innovation.

“We should be able to use TARP funds, but the White House doesn’t want to do that, so we have to use funds that are designated for a different purpose that is riskier. We can’t spend as much money, and this is why it is $15 billion. It may take more than $15 billion to get to March 31. But come March 31, it is our hope that there will be a viable automotive industry in our country with transparency and accountability to the taxpayer. We think that is possible.

“But if they don’t meet the conditions of restructuring, there is not going to be an endless flow of money to this industry, left to their own devices and the practices they have engaged in.

“While they re-evaluate their relationships, we call this a barbershop. Everyone is getting haircuts, in terms of the conditions. Labor has to take a haircut because of the concessions and expediting the concessions. Shareholders have to take a haircut. There has to be consideration of the relationship with dealerships, with suppliers, and the management itself has to take a big haircut on all of this.

“So we will see how willing everyone is to go into the future, but we want to recognize the importance of the automotive industry to our country. Their survival is essential to our economy. If they cannot survive, then we have to make a re-evaluation of the leadership as well, because we will not give up on our automotive industry. It’s just a question of how it is manifested and how it is led.

“I am very encouraged by the conversations so far. We are on the path. I will only support using Section 136 with the assurance that we will get it back in a number of weeks. And in fact, in a number of weeks, if the Big Three are not on the path to viability, we may want our money back sooner than March 31 instead of over the longer term that would be built into the bill should they again be a thriving, competitive, innovative auto industry for the future.”

Visit Speaker.gov

Finalists Announced for the 13th Annual Urban Wheel Awards Urban Car and Urban Truck of the Year

DETROIT, Dec. 8 /PRNewswire/ — The votes are in and the finalists for the
2009 Urban Wheel Awards Urban Car of the Year and Urban Truck of the Year have
been announced today by On Wheels Media, Inc. The winners will be announced
at the upcoming 13th Annual Urban Wheel Awards (UWA), to be held January 13,
2009 at the Detroit Opera House.

A multicultural panel of 23 journalists from a broad array of newspaper,
magazine, broadcast and Internet outlets were asked to nominate three vehicles
in each category. When all the votes were in, six vehicles stood out above all
the rest. Their victories were by narrow margins.

On Wheels Media’s Editor-In-Chief, Lyndon Conrad Bell says, “This was
easily one of the most competitive years we’ve seen for these awards.
Narrowing the choices down to six from over 24 nominees was a significant
challenge.”

The finalists for Urban Car of the Year are the: Dodge Challenger, Hyundai
Genesis, and Volkswagen Jetta TDI.

“The Dodge Challenger’s ability to satisfy baby boomers that couldn’t get
an original Challenger back when they were first introduced, while
simultaneously appealing to a broad array of contemporary consumers with its
performance potential and good looks is definitely worthy of praise,” says
Kimatni Rawlins of Automotive Rhythms, one of the jurors for the awards.

According to B.J. Killen of Motor Mouth productions, “The new Hyundai
Genesis represents a remarkable achievement for the quantity of content it
offers for the price. Genesis goes head to head on features and performance
with luxury cars costing as much as $20,000 more.”

“The Volkswagen Jetta TDI ushers in a new age of affordable diesel
automobiles. At once more fuel-efficient and less polluting than comparable
gasoline powered cars; VW’s Jetta is an answer to the questions everyone is
asking these days,” says juror Camilo Alfaro of AutoProyecto.

According to Bell, “Both the car and truck category have seen some
absolutely stellar product introductions for 2009.”

The finalists for Urban Truck of the Year are the: BMW X6, Dodge Ram, and
Ford Flex.

According to Arv Voss of Auto Impressions, “BMW’s X6 is a distinctive
combination of the qualities people love about SUVs, with a level of
performance typically associated only with high-end sports sedans. That it
introduces a number of firsts for BMW — brand known for innovation — makes
the BMW X6 even more significant.”

The all-new Dodge Ram considerably raises the bar in the pickup truck
arena. The interior alone advances the state of the pickup by several
generations. The new coil-spring rear suspension both smoothes its ride and
improves its handling, while the storage bins in the sides of the cargo box
are the sort of thing that everybody wonders why nobody thought of a long time
ago,” enthuses Warren Brown of the Washington Post.

Brian Armstead of AutoSense remarks, “Ford’s Flex offers design; comfort,
flexibility, good looks and technology in a distinctive package that is an
utterly fresh statement. Thoughtful touches like the hidden rocker panels,
cap-less fuel filler, and the illuminating touch pad locking system set the
Flex apart in a very crowded segment.”

Bell pointed out that, “While it makes the final decision difficult when
it comes to naming the Urban Car and Truck of the year, it’s so gratifying to
see the level of both innovation and entertainment represented by all of the
finalists. These vehicles demonstrate the industry is building better vehicles
than ever.”

On Wheels Media has produced the annual Urban Wheel Awards, the automotive
industry’s premier diversity awards ceremony, since 1996. The Urban Wheel
Awards are presented in conjunction with the North American International Auto
Show and recognizes multicultural contributions to the automotive industry.

Proceeds from the event benefit the Edward Davis Education Foundation
(EDEF), a non-profit 501(c) 3 organization established by On Wheels Media,
Inc. The mission of EDEF is to provide scholarships, internships and
mentoring to students pursuing careers in the automotive industry and
communications.

For more information about the event, visit the Urban Wheel Awards web
site at www.UrbanWheelAwards.com or contact Shandrial Hudson at (301) 390-1823
or shudson@onwheelsinc.com.

On Wheels Media, Inc. is an automotive multi-media communications company
that produces print, digital, broadcast and events. Publications include
African-Americans On Wheels, Latinos On Wheels, and Asians On Wheels
magazines, which are distributed in more than 100 newspapers throughout the
United States and have a combined readership of 8 million. The company also
produces automotive events and launched the first automotive magazine web site
www.onwheelsinc.com in 1995. Visit www.onwheelsinc.com for more information
and to sign up for your complimentary digital subscriptions.

Hyundai Specifies Soliant’s Fluorex(R) Bright Film

LANCASTER, S.C., Dec. 8 /PRNewswire/ — Hyundai Kia Motor Company
specified Soliant’s Fluorex(R) bright film on the current model Verna (Accent
in Europe) Grille for improved part durability, streamlined manufacturing and
environmental benefits. Mass production began Sept. 1, 2008 with 400 units
per day and 100,000 per year are scheduled. Previously, the grille was chrome
plated followed by painting. “Fluorex(R) bright film is replacing two
processes with one very clean process,” said Mr. Ho-Tak Jeon, Research
Engineer Polymers for HKMC (Hyundai Kia Motor Company). “We specified
Soliant’s Fluorex(R) bright film because it passes HKMC (Hyundai Kia Motor
Company) materials specification where a lot of emphasis is on UV resistance,
scratch resistance and cleanability with high pressure power washing
equipment,” continued Jeon.

Innovative Technology Wins as a “Finalist” in SPE Innovation Awards
Program

This technology includes an industry first time use of 6 preforms insert
injection molded simultaneously into one part. This innovative technology was
recognized as a “Finalist” in the Nov. 08 SPE Automotive Division Innovation
Awards Program. ECOPLASTICS, of Kyoung-Ju City South Korea is the Tier-1
supplier who worked with Soliant to develop this advanced technology. A
multifunctional team from ECOPLASTICS (R&D, manufacturing, QC) and Hyundai
Motor Company developed a fully automated process. In this process, Soliant
Fluorex(R) bright film, is thermoformed into preforms. These preforms (6) are
positioned in an injection mold and molded in a single shot grille.
Fluorex(R) bright film enables the grille to be finished, Class A, right out
of the mold. This novel approach speeds set-up, cycle times and overall
production.

Advanced Quality

In addition, the grille is very durable as the Fluorex(R) bright film has
an adhesive layer bonding it to the ABS so it does not peel or chip. The
grille is also very weatherable as Fluorex(R) bright film is UV and chemical
resistant so parts continue to look good over time. Combining the durability
of Fluorex(R) bright film with the strength inherent in ABS and the added UV
benefits of ASA enhances part quality. This gives automakers more value and
less warranty issues.

Award Winning And Environmentally Sound Technology

Soliant Fluorex(R) bright film offers additional environmental benefits as
it enables a chrome-like finish without the hazardous effects of
electroplating or paint. Automakers, consumers and the environment all
benefit as use of Soliant Fluorex(R) bright film and paintfilm also encourages
the use of lighter weight materials on automotive vehicles which results in
better fuel economy.

    -- Soliant was awarded the Global Plastics Environmental Conference
       (GPEC(R)) 2008 Achievement Award for "Enabling Technologies in
       Processes and Procedures" -- for developing Fluorex(R) bright film.
       This sustainable alternative to chrome plating demonstrated very low
       emissions, excellent impact performance and 100% recyclability.
       Soliant met all GPEC(R) Award criteria for "Sustainability and
       Recycling for a Greener Environment."  The award was presented by the
       Plastics Environmental Division of the Society of Plastics Engineers
       (SPE) at a banquet during the GPEC(R) conference March 11-12 in
       Orlando, Florida. "Soliant was deserving to win again as they met all
       criteria with a different product -- Fluorex(R) bright film -- which
       offers further environmental benefits as an alternative to the hazards
       of chrome plating,"  said Larry Koester, VP Communications for the
       GPEC(R) Awards and the SPE Environmental Division. "Soliant is in a
       small group of elite companies who are multi-year winners of our
       Environmental Stewardship awards," continued Koester.

Soliant was recently acquired by AkzoNobel, the world’s largest supplier
of paints and coatings. This was done to significantly strengthen AkzoNobel’s
position in the automotive plastics decorating market. According to Jim Rees,
General Manager for AkzoNobel Car Refinishes, “The acquisition of Soliant LLC
affirms our position of investing in ‘green’ technologies that offer
substantial and sustainable growth potential. This addition to our portfolio
is about developing a new approach to our markets. It creates a strong
platform for future growth based on the broader concepts of decoration and not
simply painting. It enables us to meet our commitments to provide Tomorrow’s
Answers Today by combining the technology leadership and operational
excellence of Soliant with the global market reach and customer base of
AkzoNobel. We look forward to welcoming the Soliant team into the AkzoNobel
portfolio of businesses.” Rees adds that Soliant is especially attractive
because of the strong management team in place and the unique intellectual
properties, protected by patents, upon which its product offerings are based.

    For more info contact:

    Pieter van der Ster
    Business Development Manager Soliant Europe & ASIA
    Saturnusweg 4C
    6971GX Brummen
    The Netherlands
    Phone: +31 575 56 56 44
    Fax:   +31 575 56 57 33

    Soliant, LLC
    Contact:
    John H. Cupstid
    jcupstid@paintfilm.com
    803.313.8222

    Intuit Group, LLC
    Media Contact:
    Teri Chouinard CBC, APR
    teri@intuitgroup.com
    810.797.7242

Media Events/Fleet Services Organization Takes Shape

BOSTON, Dec. 8 /PRNewswire/ — The nation’s leading, independent, media
fleet and event management companies today announced the formation of a
dynamic new entity known as NAVS, or North American Vehicle Services.

North American Vehicle Services (NAVS) was born in response to a need from
the auto industry for a media fleet/event management entity that offers
ground-breaking service, on a national basis.

NAVS is the perfect solution for those seeking a radical shift from the
status quo. An experienced, professional and polished team was created by
hand-picking the best in the business in each major metropolitan region to
form NAVS.

What sets NAVS apart from the rest of the media fleet industry, is the
fact that each member organization retains its independence and with that its
drive, commitment and passion to offer unsurpassed levels of client service.
NAVS also offers clients the luxury of an option they may not have had before
- choice. The choice between contracting with a single, uniform entity;
individually with our members; or a combination of both.

The NAVS team is made up of the following companies (listed by name and
headquarters):

    -- Automotion (Boston)
    -- Automotive Media Solutions (Denver)
    -- Event Solutions International (Detroit)
    -- G. Schmitz and Associates (Chicago)
    -- Page One Automotive (San Francisco)
    -- Prestige Auto (Miami)

NAVS is represented in 14 offices nationally. Collectively these companies
form a single entity that offers more than 140 years combined industry
experience.

NAVS offers a national presence with regional excellence.

Test Results on New Refrigerant for Mobile Air-Conditioning Systems Released by SAE International

WARRENDALE, Pa., Dec. 8 /PRNewswire-USNewswire/ –More information is now available on the new alternative refrigerant for mobile air-conditioning systems — HFO1234yf – judged by the SAE International Cooperative Research Program (CRP) to offer significant environmental benefits.

The results from the CRP 1234-1 and CRP 1234-2 programs that investigated the safety and performance of the new refrigerant for use in mobile air-conditioning systems (including those used in cars and light trucks) are available on-line at http://www.sae.org/standardsdev/tsb/cooperative/altrefrig.htm .

Of all the proposed alternatives considered, HFO1234yf has significant environmental benefits compared with current refrigerants, and additionally poses no significant safety concerns, thus offering the greatest potential to meet environmental and consumer needs.

The research, conducted by Gradient Corporation (USA), Exponent Engineering and Scientific Consulting (USA), Ineris, Institute National del’Environnement Industriel et des Risques (France), TNO Pharma (The Netherlands), Underwriters Laboratories (USA) and WIL Research Laboratories (USA), DNV Climate Services (Japan), did not identify any significant risks (including toxicology, flammability, etc.) for use of HFO1234yf in mobile air-conditioning systems.

Major automobile manufacturers from Europe, Asia and the United States, which together account for approximately 70 percent of all new-vehicle sales in the European Union as well as worldwide, have reviewed the findings of these studies.

SAE International is a global association of 115,000 engineers and related technical experts in the automotive, aerospace and commercial-vehicle industries. SAE International’s core competencies are life-long learning and standards development. SAE International’s charitable arm is the SAE Foundation, which supports many programs, including A World in Motion(R) and the Collegiate Design Series.

–www.sae.org–

Contact: Nancy Lewis or Shawn Andreassi, both of SAE International, via pr@sae.org or 1-248-273-4092.

Thresher Industries, Inc. Signs Renowned Sales Organization as Global Sales Representatives

HANFORD, Calif., Dec. 8 /PRNewswire-FirstCall/ — Thresher Industries,
Inc. (Pink Sheets: THRR), a manufacturer of proprietary metal matrix
composites, is pleased to announce that the Company has signed an agreement
with Advanced Technology Sales Associates to be its global sales
representative. Advanced Technology, the sister company of Automotive Sales
and Engineering Group, will represent Thresher Industries in the automotive,
aerospace and electronics industries in the Eastern United States and Europe.
Advanced Technology has a strong track record in producing sales in these
regions.

Under the agreement, Advanced Technology will contract Automotive Sales
and Engineering Group to work on behalf of the Company in the automotive
sector. Automotive Sales and Engineering is an engineering sales organization
that focuses on principal revenue growth through the development of highly
profitable niche and new product markets in the automotive sector. Its
customers include Visteon, Lear, Automotive Components Holding Company, Ford
Motor Company, American Axle, Hutchinson and Magna.

Thresher Industries provides metal and aluminum castings that are used in
a variety of automotive applications including water pumps, torque boxes,
engine cradles and suspension components. The Company’s engineered materials
offer light weight high strength and wear resistant materials to meet the
demands of the auto industry in the 21st century.

“With increasing business opportunities in the Eastern United States and
Europe, it has become necessary to provide our customers with engineering and
sales support for their operations. Advanced Technology brings a great deal of
expertise in the automotive sector to Thresher Industries and our clients, and
it’s also an added resource for the Company,” stated Tom Flessner, CEO of
Thresher Industries, Inc.

About Automotive Sales and Engineering Group:

Automotive Sales and Engineering Group has averaged 11 percent sales
growth over the last 5 years by focusing its principal revenue growth through
the development of highly profitable niche and new product markets in the
automotive sector. The Company represents numerous leading automotive
suppliers from all facets of the automotive industry and is dedicated to
increasing sales and profits for its clients.

About Thresher Industries, Inc.:

Thresher Industries is a provider of aluminum and metal matrix composite
alloy castings. They provide a full range of casting capabilities, from
prototypes or low volume casting to permanent mold, low pressure and high
pressure castings. Engineered materials working from our extensive catalog of
alloys to materials engineered to meet the customers very specific need
without compromise. The company offers full engineering, metallurgical and
sales support as well as unique technologies such as our Nautilus Core system.

Statements contained in this news release, other than those identifying
historical facts, constitute “forward-looking statements” within the meaning
of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor
provisions as contained in the Private Securities Litigation Reform Act of
1995. Such forward-looking statements relating to the Company’s future
expectations, including but not limited to revenues and earnings, technology
efficacy, strategies and plans, are subject to safe harbors protection. Actual
Company results and performance may be materially different from any future
results, performance, strategies, plans, or achievements that may be expressed
or implied by any such forward-looking statements. The Company disclaims any
obligation to update or revise any forward-looking statements.

                                   Contact:
                          Thresher Industries, Inc.
                          www.thresherindustries.com
                                   or Call
                              Investor Relations
                             + 1-866-THE-APPL(E)

Honeywell’s Low-Global-Warming-Potential Refrigerant Endorsed by SAE International Cooperative Research Project

SAE’s International Cooperative Research Program finds new refrigerant offers ’superior environmental performance’

MORRIS TOWNSHIP, N.J., Dec. 8 /PRNewswire/ — Honeywell (NYSE: HON) announced today that the SAE International Cooperative Research Program has endorsed Honeywell’s low-global-warming-potential refrigerant for use in mobile air conditioning (MAC) to meet new, more stringent regulations in Europe.

The SAE program team said refrigerant HFO-1234yf “offers superior environmental performance” and that “this alternative refrigerant — of all proposed alternatives — has been judged to have the lowest risk for use in mobile air conditioning systems in meeting environmental and consumer needs.”

The SAE’s research program was launched in 2007 as a response to the European Union’s MAC directive, which requires that all new vehicles produced starting in 2011 use a refrigerant with a global warming potential below 150. Current global mobile air conditioning systems use HFC-134a, a refrigerant with a GWP of 1,430. HFO-1234yf has a GWP of only four.

The SAE program’s extensive testing showed that HFO-1234yf is a “highly energy-efficient refrigerant, meaning autos with HFO-1234yf use less fuel and have fewer (greenhouse gas) emissions than those that use alternatives.” The program found that while CO2, another proposed alternative, has a global warming potential of 1, it “is less efficient than 1234yf, resulting in greater indirect emissions.”

Rene Mueller, managing director for Europe, Middle East and Africa for Honeywell Fluorine Products, said, the SAE program results mirror the findings of many automakers and independent groups, whose testing shows that HFO-1234yf use is safe and a better solution than CO2 to meet the MAC directive. “Use of HFO-1234yf meets the ultimate goal of reducing not only the direct global warming impact of automotive refrigerants, but also the impact of indirect fuel emissions tied to running air conditioning,” said Mueller. “Because 1234yf, unlike CO2, is efficient and effective in even the hottest regions, it is a truly global solution.”

The SAE program was conducted by international experts in the field of refrigerants and automotive technology from major automakers, as well as Tier 1 and 2 suppliers and independent test facilities. Program members include major automobile manufacturers from Europe, Asia, and the U.S., who together account for approximately 70 percent of all new vehicle sales in the EU and globally. SAE International is a global association of 115,000 engineers and related technical experts in the automotive, aerospace and commercial-vehicle industries

Under the SAE program, the safety and effectiveness of air conditioning systems, performance, material compatibility and relative risks of HFO-1234yf were extensively evaluated.

“HFO-1234yf is a near drop-in replacement for current refrigerants, meaning it does not require a complete redesign of current air conditioning systems and can be more easily used in the existing fleet of automobiles,” said Mueller. “This means lower overall car costs for the consumer and faster adoption by automakers globally.”

For more information on HFO-1234yf, go to www.1234facts.com.

Honeywell Specialty Materials, based in Morris Township, N.J., is a $4.9 billion, global leader in providing customers with high-performance specialty materials, including fluorine products; specialty films and additives; advanced fibers and composites; intermediates; specialty chemicals; electronic materials and chemicals; and technologies and materials for petroleum refining.

Honeywell International is a $38 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; specialty chemicals; fibers; and electronic and advanced materials. Based in Morris Township, N.J., Honeywell’s shares are traded on the New York, London, Chicago and Pacific Stock Exchanges. It is a component of the Standard & Poor’s 500 Index. For additional information, please visit www.honeywell.com.

This report contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Forward-looking statements are based on management’s assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by our forward-looking statements. Our forward-looking statements are also subject to risks and uncertainties, which can affect our performance in both the near- and long-term. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.

China Automotive Systems Hosts Ceremony for First Shipment to Dongfeng Peugeot Citroen

WUHAN, Hubei, China, Dec. 8 /PRNewswire-Asia-FirstCall/ — China
Automotive Systems, Inc. (Nasdaq: CAAS), a leading power steering components
and systems supplier in China, today announced that its subsidiary, Jingzhou
Henglong Automotive Parts Co. (“Henglong”), conducted a ceremony to celebrate
the first shipment of its power steering gears to the Dongfeng Peugeot Citroen
Automobile Company Ltd. (“DPCA”) for use in DPCA-manufactured cars.

In addition to Mr. Hanlin Chen, Chairman of CAAS and other senior
management of the Company, the Mayor of Jingzhou City, where Henglong is based,
the Purchasing Director of DPCA, an officer of PSA Global Procurement in
Shanghai, and French automotive engineers attended the ribbon-cutting ceremony.
Following the ceremony, all guests visited the production plant, testing
center and R & D facility.

Mr. Hanlin Chen, Chairman, stated, “This first shipment represents a
milestone in our drive to become a leading supplier of power steering systems
and gears to the world’s automotive leaders. Following our successes with DPCA,
we also received our first purchase order with a global automotive
manufacturer headquartered in North America.”

“Our advanced power steering gears being shipped to DPCA are replacing
products currently being imported into China. Our gears and systems have
achieved global quality standards for these critical safety-related products,
and we have a cost advantage which will benefit DPCA by using our products,”
Mr. Chen concluded.

The Purchasing Manager of DPCA and officers from PSA Global Procurement
congratulated Henglong for meeting the stringent global quality standards
which led to winning the DPCA contract. They also stated they look forward to
continuing to work closely with CAAS as it is on its way to becoming a
supplier to PSA Global in the future.

Henglong’s manager reviewed how the company started development of three
new power steering gears for DPCA in 2005. These three models were designed
for the Peugeot 206, Elysee R23 and Picasso N68. Subsequently, all models
passed the French UTAC safety test, road tests and inspections. In 2008,
Henglong won commercial supply contracts for the Peugeot 206 and Elysee R23,
and is continuing to work on orders for the Picasso N68 model.

About Dongfeng Peugeot Citroen Automobile Co. Ltd.

Dongfeng Peugeot Citroen Automobile Company Limited, established in 1992,
is a joint venture between Dongfeng Motor Corporation and French automaker,
PSA Peugeot Citroen. Headquartered in Wuhan, Hubei, DPCA is now the one of the
largest automobile manufacturers in China. In 2007, the Company’s sales volume
had reached 207,000 passenger cars. The Company announced the plan to increase
production capacity after construction of the second plant in Wuhan. For more
information, please visit http://www.dpca.com.cn .

About CAAS

Based in Hubei Province, People’s Republic of China, China Automotive
Systems, Inc. is a leading supplier of power steering components and systems
to the Chinese automotive industry, operating through seven Sino-foreign joint
ventures. The Company offers a full range of steering system parts for
passenger automobiles and commercial vehicles. The Company currently offers 4
separate series of power steering and 307 models of power steering with an
annual production capacity of 1.1 million sets, steering columns, steering oil
pumps and steering hoses. Its customer base is comprised of leading Chinese
auto manufacturers such as China FAW Group, Corp., Dongfeng Auto Group Co.,
Ltd., Brilliance China Automotive Holdings Ltd., Beiqi Foton Motor Co., Ltd.
and Chery Automobile Co., Ltd., etc. For more information, please visit:
http://www.caasauto.com

Safe Harbor Statement

This news release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. These forward-looking
statements are based on current expectations or beliefs, including, but not
limited to, statements concerning the Company’s operations, financial
performance and condition, and the impact of acquisitions on its financial
performance. For this purpose, statements that are not statements of
historical fact may be deemed to be forward-looking statements. The Company
cautions that these statements by their nature involve risks and uncertainties,
and actual results may differ materially depending on a variety of important
factors, including, among others, the impact of competitive products, pricing
and new technology; changes in demand for the Company’s products; changes in
consumer preferences and tastes; and effectiveness of marketing; changes in
laws and regulations; fluctuations in costs of production, delays and cost
overruns related to developing and opening new production facilities; and
other factors as those discussed in the Company’s reports filed with the
Securities and Exchange Commission from time to time.

    For further information, please contact:

     Jie Li
     Chief Financial Officer
     China Automotive Systems
     Email: jieli@chl.com.cn

     Kevin Theiss
     Investor Relations
     Grayling Global
     Tel:   +1-646-284-9409
     Email: ktheiss@hfgcg.com

     Stacey Dimakakos
     Financial Media Relations
     Grayling Global
     Tel:   +1-646-284-9417
     Email: sdimakakos@hfgcg.com

Ener1 Announces Cooperative Partnership with Heavy Duty OEM and the Department of Energy to Develop Batteries for HEV Bus Applications

NEW YORK, Dec. 8 /PRNewswire-FirstCall/ — Ener1, Inc. (Amex: HEV), maker
of advanced lithium-ion battery solutions to power the next generation of
hybrid, plug-in hybrid and electric vehicles, today announced a cooperative
partnership among EnerDel, Ener1’s lithium-ion battery subsidiary, a heavy
duty original equipment manufacturer (OEM) and the Department of Energy, to
develop high-energy batteries for hybrid bus and heavy duty vehicle markets.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080312/CLW018LOGO )

The partnership is a congressionally directed program with a total budget
of $1.25 million, 80 percent of which will be funded by the National Energy
Technology Laboratory at the Department of Energy, and the remaining 20
percent will be funded by EnerDel.

The program has been designed to test EnerDel’s multiple hybrid electric
vehicle (HEV) battery chemistries under real world conditions. Three of
EnerDel’s advanced chemistries have been selected for testing in extreme
environments, ranging from hot and cold climates to operating the hybrid
battery in full electric mode for extended periods of time. The significance
of this would be to simulate long driving distances where the goal is to
eliminate noise and pollution in tunnel and other city driving applications.
The heavy duty OEM will identify and deliver drive cycle requirements for each
environment. The program will partially complete the collection of testing
and drive cycle data necessary to produce battery systems solutions for HEV
bus and heavy duty vehicle markets.

“Ener1 has some of the world’s leading experts in the field of lithium-ion
chemistry,” said EnerDel CEO Ulrik Grape. “Our ability to work with multiple
chemistries makes this an ideal project to test our HEV batteries in different
environments. This program is further testimony to the advanced and diverse
nature of our technology and battery system solutions, and will help
accelerate time to market through the rigorous testing and collection of
data.”

Safe Harbor Statement:

Certain statements made in this press release constitute forward-looking
statements that are based on management’s expectations, estimates, projections
and assumptions. Words such as “expects,” “anticipates,” “plans,” “believes,”
“scheduled,” “estimates” and variations of these words and similar expressions
are intended to identify forward-looking statements. Forward-looking
statements are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, as amended. These statements are not
guarantees of future performance and involve certain risks and uncertainties,
which are difficult to predict. Therefore, actual future results and trends
may differ materially from what is forecast in forward-looking statements due
to a variety of factors. All forward-looking statements speak only as of the
date of this press release and the company does not undertake any obligation
to update or publicly release any revisions to forward-looking statements to
reflect events, circumstances or changes in expectations after the date of
this press release.

About Ener1, Inc.:

Ener1 develops and manufactures compact, high performance lithium-ion
batteries to power the next generation of hybrid and electric vehicles. The
publicly traded company (Amex: HEV) is led by an experienced team of engineers
and energy system experts at its EnerDel subsidiary located in Indiana.
EnerDel has developed proprietary battery systems based on technology
originally pioneered with the assistance of the Argonne National Lab.

Ener1 is seeking to become the first company to mass-produce a cost-
competitive lithium-ion battery for hybrid and electric vehicles. Demand for
battery solutions is being driven by a need to reduce dependence on oil as
well as growing concern about vehicle emissions. In addition to the automobile
market, applications for Ener1 lithium-ion battery technology include medical,
military, aerospace, electric utility and other growing markets.

Major shareholders of Ener1 include Ener1 Group, Inc., a privately held,
global investment and advisory firm, and ITOCHU Corporation, a Japanese
trading company and distributor of manufacturing equipment essential to
lithium-ion battery production. ITOCHU has annual revenue of approximately $90
billion and offices in more than 80 countries. Ener1 has also received funding
from a growing number of institutional investors.

In addition to battery technology, Ener1 develops commercial fuel cell
products through its EnerFuel subsidiary and nanotechnology-based materials
and manufacturing processes for batteries and other applications through its
NanoEner subsidiary.

    Contacts: INVESTOR RELATIONS              MEDIA RELATIONS
              Rachel Carroll                  Jon Coifman
              VP Corporate Communications     Waggener Edstrom Worldwide
              P: 212 920 3500                 P: 212 551 4815
              E: rcarroll@ener1.com           E: jcoifman@waggeneredstrom.com