Korea's DPECO ships 3,000 electric mini trucks to Europe

South Korea’s DPECO Co. will ship out 3,000 electric mini trucks, built on homegrown technology, to Europe, in its first foray into the global green truck market.

The Konex-listed company said Thursday it signed the electric truck deal, reportedly worth 70 billion ($58.8 million), of supplying 3,000 Potro trucks to Hungarian car dealer UCD for sale in European countries. The first shipment will be made in November, at the earliest, upon completing related legal procedures.

On Friday, DPECO shares gained 4.17 percent to end at 5,000 won in Seoul.

The company is also expected to expand its electric mini truck exports to Indonesia soon. It currently is in talks to supply 20,000 complete knock-down (CKD) kits of Potro.

DPECO, which manufactures and distributes automobile parts, developed Potro electric mini truck with its proprietary technology. The compact truck is 30.4 meters (99.7 feet) long, 10.44 meters wide, and 19 meters tall, making it convenient for driving in narrow streets for deliveries.

The company began mass production of Potro in full swing last month, and has been taking pre-orders on the electric mini trucks for domestic market with a plan to start shipment in October. Potro is marketed at around 20 million won in Korea, after state subsidies.

It has secured deals for supplying over 600 Potro electric trucks to local companies, including national defense ministry and golf course management firm, at home so far.

DPECO has high hopes with Potro, winning the short-distance delivery transportation market, said Song Shin-keun, DPECO chief executive officer.

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