DTE Energy (DTE) welcomes two new members – Tesla Motors Inc. (TSLA) and the Electric Power Research Institute (“EPRI”) — to the electric vehicle research consortium, U.S Driving Research and Innovation for Vehicle efficiency and Energy sustainability (U.S. DRIVE).
U.S. DRIVE is a voluntary government-industry partnership focused on research and development of electric vehicles and related infrastructure technology to lower the reliance on fossil fuel. Such projects help to strive for a cleaner environment.
The inclusion of these partners will enhance the research network of the consortium. DTE Energy has worked previously with EPRI and developed technologies, which increased the safety and reliability of the electric system infrastructure and reduced the environmental impact of utility operations. Tesla Motors’ ability to create electrical vehicles and its willingness to explore new avenues will definitely come as a boost to the team.
This consortium, renamed from FreedomCAR and Fuel Partnership to U.S. DRIVE, has members from diverse industries working with a common goal of safeguarding American vehicles owners against increase in gas prices and also reducing the reliance on imported oil.
The members of the consortium from the auto industry comprised United States Council for Automotive Research LLC, the collaborative research company for Chrysler Group LLC, Ford Motor Company (F), and General Motors Company (GM). The new entrant to this group is Telsa Motors.
The members of the consortium from the energy industry are BP America, a unit of BP Plc. (BP), Chevron Corporation (CVX), ConocoPhillips (COP), ExxonMobil Corporation (XOM) and Shell Oil Products US.
The members of the consortium from the electric utility industry are Southern California Edison, a unit of Edison International (EIX) and DTE Energy, a member since 2008. The new member to this group is Electric Power Research Institute.
DTE Energy reported first-quarter 2011 earnings below the Zacks Consensus Estimate. The company expects earnings per share in 2011 in the range of $3.40 to $3.70. The Zacks Consensus Estimate for 2011 is currently $3.29 per share.
DTE Energy currently retains a Zacks #3 Rank (short-term Hold rating). The company competes with CMS Energy Corp. (CMS) and Wisconsin Energy Corp. (WEC).
Based in Detroit, Michigan, DTE Energy operates as an electric and natural gas utility company. The company is also involved in non-utility operations.
BP PLC (BP): Free Stock Analysis Report
CMS ENERGY (CMS): Free Stock Analysis Report
CONOCOPHILLIPS (COP): Free Stock Analysis Report
CHEVRON CORP (CVX): Free Stock Analysis Report
DTE ENERGY CO (DTE): Free Stock Analysis Report
EDISON INTL (EIX): Free Stock Analysis Report
FORD MOTOR CO (F): Free Stock Analysis Report
GENERAL MOTORS (GM): Free Stock Analysis Report
TESLA MOTORS (TSLA): Free Stock Analysis Report
WISC ENERGY CP (WEC): Free Stock Analysis Report
Be the first to comment