Jan. 24, 2011
President Also Announces Vehicle Purchase Transaction and U.S. Vehicle Compliance Plans
DALLAS -- Green Automotive Company Corporation (OTC:GACR.PK) President Fred Luke announced today that the Company is in discussion with Mr. Ben Rainwater to re-join Green Automotive as a member of its Board of Directors, and with Mr. Jack Tian who the Company has asked to join as an officer.
"There are a number of rumors floating around concerning the recent restructuring of our Board, and the Extension Agreement with Zotye", said Mr. Luke. "As Steve Wells, the Company’s co- founder, Vice-President and Director, said a few weeks ago, the Company is continuing to move forward with its corporate development plans and product launch. In this regard, I have been in discussion with Mr. Rainwater to re-visit his involvement and the possibility of re-joining the Company with the opportunity to have a greater impact on the Company's overall business. We are also in discussion with Mr. Jack Tian in an effort to have an experienced and capable liaison on the Green Auto Team responsible for our U.S. / Chinese business activities. Both have agreed to continue discussions through next week."
"Also, in a major milestone event, Green Automotive Company has just completed a significant transaction with Zotye to purchase a number of vehicles (9 total) that will be imported for the express purpose of ensuring compliance with all U.S. DOT Federal Motor Vehicle Safety Standards ("FMVSS") requirements. Mr. Luke said, "The purchase of these additional vehicles is in keeping with our plans to perform full compliance testing here in the U.S. using highly qualified companies with extensive FMVSS compliance testing backgrounds and experience, which will ensure we bring to market a full electric vehicle that is also fully compliant with all U.S safety standards." Mr. Luke also stated that Green Auto is in the process of reviewing a number of high profile U.S. based companies that have the requisite DOT FMVSS backgrounds and plans to "announce which company Green Auto has engaged for this important work as soon as next week."