DALLAS, June 14, 2010 (GLOBE NEWSWIRE) -- The Green Automotive Company Inc. (Pink Sheets:GACR) announced today that it has signed a Dealer Agreement with EvCarco (EVCA), which should put the all-new all-electric Zotye SUV being brought into North America under an exclusive Import Agreement with Zotye Global (www.zotyeglobal.com), in local cities and streets in the next twelve months.
The Zotye SUV is a five door, four seat, Electric (Lithium Ion Battery) SUV Vehicle with regular On-Board Charging and fast charging ports, an automatic transmission and over a dozen options as to interiors, tires and rims, and customization. The Zotye is rated 0 to 60 in 9.5 seconds with a range of up to 250 miles, and comes with an 185,000 mile Warranty.
Under the agreement between EvCarco and Green Automotive Company, EvCarco will distribute the all-electric Zotye SUV to its coast-to-coast network of existing automotive dealerships in California, Nevada, Texas, Oklahoma, Georgia, and Florida to allow its current dealership network to offer eco-friendly electric vehicles to their customers. EvCarco has developed a six-state auto dealer network with plans to expand into most states by 2012.
The agreement with EvCarco follows close behind the announcement last month that Green Automotive Company finalized its relationship and signed an exclusive agreement with GoSmart Technologies Inc., makers of fast-charging plug-in vehicle charging stations that allow electric vehicle owners and businesses to charge their electric and Hybrid vehicles at home or at work. http://www.usaelectricauto.com/news/9/39/Green-Auto-Announces-New-Charging-Station-Contract.html
Steven Fly, CEO of Green Automotive Company, stated, "This is the beginning of a great relationship with a company who, like us, believe that there is a tremendous opportunity today for those who hear the mandate for eco-friendly electric vehicles."
According to EvCarco, the initial distribution cities include Dallas, Austin, San Antonio, and Houston Texas; Oklahoma City, Oklahoma; San Diego, Sacramento, Palm Springs, California; Las Vegas, Nevada; Phoenix/Scottsdale area in Arizona; Atlanta, Georgia; Naples, West Palm Beach and Miami, Florida. EvCarco anticipates the marketing program to be in full effect by this Summer, and will include the marketing of Green Automotive Company's Zotye SUV as well as other alternative fuel vehicles, such as Hybrids and Natural Gas powered vehicles.
Upon signing the agreement with Green Automotive, Dale Long, EvCarco Founder & CEO, said, "We think Electric Vehicles are finally here to stay and the market is ready for them. And, we love the quality of the Zotye. Green Automotive is not only on the right course, but way ahead of the competition in my view." Mr. Long added, "We are looking forward to getting these new SUV's into our showrooms and getting the customers behind the wheel. The addition of the new Charging Stations not only increases the efficiency of the car but puts it ahead of everything we've seen so far in terms of being financially attractive and ease of operation."
About Green Automotive Company Inc.:
Green Automotive Company is an import/distributor of Electric Cars/SUV's throughout North America. The Zotye Electric SUV Vehicle is the Company's first all-electric vehicle to be introduced in what the Company intends to become a wide variety of Electric, Hybrid and alternative fuel vehicles to be offered by Green Automotive in the U.S. and Europe. For more information visit www.usaelectricauto.com.
The Green Automotive Company, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7440
About EvCarco:
EvCarco is the first automotive retail group dedicated to deploying a coast-to-coast network of eco-friendly dealerships and vehicles. EvCarco is bringing to market the most advanced clean technologies available in plug-in electric, pre-owned hybrids, and alternative fuel vehicles. EvCarco has developed a dealer network allowing growth into most US States by 2012. For more information visit www.evcarco.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 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 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.