Green Automotive Company Announces Next Step in Development Program with the Visit to America of CEO
Nov 8th 2012 2:46PM
Updated Nov 8th 2012 2:50PM
Green Automotive Company Announces Next Step in Development Program with the Visit to America of CEO and CFO of Liberty Electric Cars
The CEO and CFO of GAC's subsidiary Liberty Electric Cars arrive in the USA to continue the company's growth program
NEWPORT BEACH, Calif.--(BUSINESS WIRE)-- Green Automotive Company (OTC:GACR) today announced that two senior executives from Liberty Electric Cars, Ian Hobday, CEO, and Darren West, CFO, arrived in America on a business development tour.
The highlight of their visit sees them participate in the Limo Digest Show 2012 in Atlantic City which starts on the November 12th. Joining there with Carter Read, President of GAC subsidiary Newport Coach Works Inc. (NCWI), they plan several discussions with America's leading bus retailer, Don Brown Bus Sales Inc. following hot on the trail of their initial order with NCWI. With GAC announcing recently that their two subsidiaries NCWI and Liberty will collaborate on the development of a range of Electric Buses, the meeting with Don Brown promises to be about the future of clean transport solutions across America.
In addition their visit will take in a number of meetings, including three designed to advance potential acquisitions with face-to-face discussions. All three potential acquisitions are in the Electric Vehicle space and would enhance GAC's US footprint in this fast-growing sector. They will also meet with a $15bn US Truck Manufacturer to further their dialogue over potentially building vehicles under licence in the low- or zero-emission category.
Darren West, CFO of Liberty: "Every industry presents consolidation opportunities at the beginning and at the end. Since we're at the beginning of the development of the EV transport industry, GAC have recognised that a number of acquisition, merger and JV opportunities will present themselves. We plan to use our time here in the States to follow up on a number of these development possibilities, and potentially to uncover some new ones."
Ian Hobday, CEO of Liberty: "GAC's time is now. With probably the best EV technology, particularly for larger vehicle platforms and a wealth of experience, we anticipate a leading role in the development of the clean transport sector. This visit to America so shortly after hosting Carter Read in the UK, allows us to continue to build on those discussions. More than that, it allows us to present the future to a key partner like Don Brown, and get their input in to how we bring to market the most exciting zero-emission public transport solutions."
About Green Automotive Company : Green Automotive Company is a US public company involved in the Conversion, Import and World-wide Distribution of Eco-friendly vehicles. The Company is presently planning to bring All-Electric and other Eco-friendly vehicles into the United States market through a combination of converting piston engine vehicles and importing existing EVs. The Company is currently involved in assessing a number of All-Electric and alternate fuel vehicles including an All-Electric Intra-City and Municipal Mass Transit Bus and School Bus, for introduction to the US market. GAC recently acquired Liberty Electric Cars Limited, a UK-based company that designs, develops, manufactures and markets electric vehicle technologies for use in its own converted vehicles and for sale to OEMs for incorporation into their production. It provides a full aftermarket program to electric vehicle users to ensure the longevity of their vehicles and has partnership arrangements in other European countries. The Liberty team, can count on over 200 man years of experience in the Automotive industry and specifically 70 plus man years in the EV sector covering some 2,500,000 miles. Green Automotive Company maintains its Corporate Office in Newport Beach, California. Green Automotive Company shares are traded on the OTC Market Tier--OTC Pink Current under the symbol "GACR". For more information visit www.usaelectricauto.com or write to firstname.lastname@example.org.
Safe Harbor Statement - This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Green Automotive Company incorporates by reference its disclosure and financial statements posted on www.otcmarkets.com, and does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.
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