News
Newport Beach, California, September 21, 2011 (BUSINESSWIRE) - Green Automotive Company Corporation (www.usaelectricauto.com) (OTC:GACR) announced today that it is planning to begin testing of an all-electric mini-van, also referred to as a multi-purpose vehicle or "MPV", which has been determined to have both the size and the utility to quickly become a sales volume leader for GAC in both the retail and fleet buyer segments.
"Part of the purpose of our trip to China last April was to visit with various vehicle manufacturers to preview their all-electric vehicle model line-up to determine which of their existing EVs had the best US market potential. We also were able to look at additional vehicles in their gas powered vehicle line-ups to determine which of those vehicles might be suitable candidates for conversion into an EV for inclusion in Green Automotive Company's all electric vehicle line-up." Ben Rainwater, Director.
"As we consider the process required to ensure compliance with DOT FMVSS regulations, GAC will begin with a "hands-on" physical assessment of the MPV EV with the list of FMVSS Crash Avoidance Standards and Crash Worthiness Standards driving the activities related to this in-depth and thorough assessment. The physical vehicle engineering evaluation process will be performed by a select group of engineers provided by GAC's strategic technology partners. With elapsed time being a major consideration, GAC should have the option of performing the MPV EV Phase I – Vehicle Assessment either here in the US or in China at GAC's Vehicle Development Center contingent on short term availability." Fred Luke, President
Green Automotive Company Corporation Corporate Office is located at 23 Corporate Place, Suite 150, Newport Beach, California 92660; Green Automotive Company Corporation Dealership Services Office is located at 720 Valley Ridge Suite 5, Lewisville, Texas 75077.
About Green Automotive Company
Green Automotive Company Corporation is U.S. public company involved in the import and distribution of Eco-friendly vehicles in the U.S. The Company's shares are on the OTC Market Tier--OTC Pink Current under the symbol "GACR". Visit www.usaelectricauto.com or contact us.
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 Corporation 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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