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Balqon Expands Distribution Into Europe With Mol Transport Solutions

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  Published in House and Home on Monday, July 19th 2010 at 4:10 GMT by Market Wire
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HARBOR CITY, CA--(Marketwire - July 19, 2010) - Balqon Corporation (OTCBB: [ BLQN ]), a developer and manufacturer of zero emissions, heavy-duty electric vehicles for Class 7 and Class 8 applications, has entered into a Dealer Agreement with Mol Transport Solutions, a leading manufacturer of port and material handling equipment in Europe.

Founded in 1944, Mol Transport Solutions develops heavy duty trucks for both off-highway and on-highway vocational applications. Their product line includes trailers, tractors and trucks used for moving containers at ports, rail yards and inner city applications.

"We view Mol as a strategic partner in regards to Balqon entering the European continent, as Mol's experience in the region provides us with the knowhow to gain European compliance for our products," said Balwinder Samra, president and CEO of Balqon Corporation. "This relationship will provide us the ability to localize our current products to European standards while adding new product configurations such as 4 wheel drive roro tractors to our existing product line."

"In addition to Balqon's current combined product line, Balqon and Mol plan to jointly develop an all electric product configuration for on-road applications in Europe that will incorporate Balqon's proprietary drive system and high-capacity lithium-ion battery packs," said Samra.

Mol Transport Solutions represents the fourth international dealer agreement Balqon has established since the first of the year. In February, Balqon entered into an agreement with Autoelevadores Yale, a leading distributor of material handling equipment and electric vehicles in Argentina. In March, Balqon entered into an agreement with Industrias IVOR, a distributor of trucks, firefighting trucks and equipment, refuse trucks, and heavy machinery for material handling products in Colombia. In June, Balqon entered into an agreement with Electric Cars of Costa Rica, a distributor of light duty trucks, golf carts, trams and neighborhood electric vehicles in Costa Rica.

About Mol Transport Solutions
Founded in 1944, Mol Transport Solutions is a developer of high quality container chassis for all types of containers, tipper designs, roro tractors, refuse vehicle bodies, rail yard switchers and other heavy duty vocational products. Mol also provides subcontract manufacturing services related to the fabrication of custom vehicles such as fire trucks, military transport vehicles and refuses vehicles. A team of 500 employees and specialized technicians are responsible for after-sales service, nationally and internationally. Mol has ISO 9001-2000 certification, a Caterpillar Certified Supplier label and the CNH Quality Award. These accreditations are the outcome of the company's permanent quality assurance and constant refinement of production methods. For more information about Mol Transport Solutions, visit [ www.molcy.com ].

About Balqon Corporation
Headquartered in Harbor City, California, Balqon Corporation (OTCBB: [ BLQN ]) is a leading developer of heavy-duty electric trucks, tractors and electric drive systems. The company uses its proprietary flux vector control technology to design propulsion systems for 10 to 50 ton capacity vehicles and material handling equipment. Balqon Corporation's product line of tow tractors built on Autocar LLC chassis are designed to transport containers at ports, marine terminals, rail yards, warehouses, intermodal facilities, military bases and mail facilities. For more information about Balqon Corporation, visit [ www.balqon.com ].

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
With the exception of historical information, the matters discussed in this press release, including without limitation, Balqon Corporation's ability to sell products; the commercial viability of Balqon Corporation's products; the ability of Mol Transport Solutions to market, distribute and service Balqon Corporation's products; the ability of Balqon Corporation to develop a market presence in Europe, including the ability of Balqon Corporation and Mol Transport Solutions to introduce new products and zero emissions technologies to Mol Transport Solution's existing customers; the ability of Balqon to gain compliance for its current products in Europe; the ability of Balqon to localize its current products to European standards; the ability of Balqon to the ability of Balqon and Mol to develop a new product; and the ability of Balqon Corporation to develop a global presence for its product offerings are forward-looking statements that involve a number of risks and uncertainties. The actual future results of Balqon Corporation could differ from those statements. Factors that could cause or contribute to such differences include, but are not limited to, unforeseen technical issues; Mol Transport Solution's ability to secure purchase orders for Balqon Corporation's products; Balqon Corporation's ability to fulfill any such purchase orders; Balqon Corporation's ability to attract sufficient capital to manufacture its products; the ability of Balqon Corporation to attract and retain talented individuals; adverse economic and market conditions; the projected future demand for Balqon Corporation's products; changes in technology and governmental regulations and policies; and other events, factors and risks previously and from time to time disclosed in Balqon Corporation's filings with the Securities and Exchange Commission, including, specifically, those factors set forth in the "Risk Factors" section of Balqon Corporation's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission.