DALLAS, May 19, 2010 (GLOBE NEWSWIRE) -- The Green Automotive Company Inc. (Pink Sheets:GACR) (www.usaelectricauto.com) announced the signing of a new contract with GoSmart Technologies Inc. (www.gosmarttechnologies.com) to develop plug-in vehicle charging stations for home use. The GoSmart charging unit requires the same electrical connection as a typical residential clothes dryer (220V) and would give the car a full charge within two hours. The custom units (priced @ $2295/ea) will be available through Green Auto and licensed dealers that will be offering the Zotye direct to consumers.
Steven Fly, CEO of Green Automotive Company, stated "Our contract with GoSmart positions our company to truly offer the purchaser of our Zotye electric SUVs a complete solution that is cost effective and convenient. The Industry is growing so fast there is even an iPhone app that can be downloaded to locate Charging Stations." (Click here http://itunes.apple.com/us/app/ev-charger-finder/id354628084?mt=8).
GoSmart Technologies Inc. Founder & CEO Brian Smith stated, "With accessible charging, plug-in electric vehicle owners can now charge in confidence during any part of their daily routine. This provides convenience and security, ensuring a full charge at anytime they choose."
Discovery News reported, in California, electric systems company AeroVironment announced a partnership with EV-maker "Think" to make fast-charging stations. Coulomb Technologies announced a similar deal with Aker Wade Power Technologies to produce stations this fall. Better Place (www.betterplace.com) envisions a complete charging network that includes battery switch stations for drivers on long trips. Last year, the DOE announced a massive grant to the Electric Transportation Engineering Corp. to install 2,500 charging stations in each of five markets: Arizona, California, Oregon, Tennessee, and Washington. The EV Project calls for several hundred of these stations to be fast-charging systems that can charge the vehicle 80 percent in a mere 15 minutes.
Arizona Republic reports, a $99.8 million stimulus-act grant will help usher in the electric cars and chargers when they hit the street late this year, and it is giving a significant boost to Charging Station Manufacturers. Arizona based Ecotality Inc. received the grant last year to roll out about 12,000 charging stations for the first 4,700 Nissan Leaf vehicles and to research how people use the cars and chargers. The company has a subsidiary in Phoenix, formerly called ETEC and now named Ecotality, that develops and tests electric-car equipment.
Seattle, WA will be one of five cities to get 2,500 charging stations under a $100 million federal grant to the Electric Transportation Engineering Corporation (eTec). Consumers who participate will receive a 220-volt charging station in their home. www.alternative-energy-news.info/first-public-charging-station-for-electric-cars/
The Zotye Electric SUV Vehicle has: A/C & Heat, Power windows/Power locks, DVD Audio System, Integrated electric system monitoring screen (Monitor battery status, vehicle speed, charging status, Regular On Board Charging and fast charging port, Automatic transmission (8:1 ratio), Five Door, 4 seats, (Lithium Ion Battery) Max Speed: up to 75 mph, with a range of up to 250 miles. The Vehicle comes with an 185,000 Mile Warranty. Info: (www.zotyeglobal.com).
About Green Automotive Company Inc:
Green Automotive Company is an import/distributor of Electric Cars/SUVs to North America. For more information, visit: www.usaelectricauto.com
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Safe Harbor Statement - This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange 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 Inc. 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.