Green Automotive Company Announces Progress in the Development of a Range of Electric Buses by Subsi
Green Automotive Company Announces Progress in the Development of a Range of Electric Buses by Subsidiary Newport Coach Works, Inc.
Recent Meeting in UK between Newport Coach Works, Inc. and Liberty Electric Cars is the start of work on a range of Electric Buses to be built in the NCI facility in California
NEWPORT BEACH, Calif.--(BUSINESS WIRE)-- Green Automotive Company (OTC:GACR) today announced that its two subsidiaries had initiated a collaborative project to develop a range of electric buses for the North American market, utilizing the proprietary electric drive train technology from Liberty and combining it with the industry leading bus designs of Newport Coach Works.
Carter Read, President of Newport Coach Works, travelled to the UK two weeks ago to initiate this project, meeting with the Liberty team at their technology development centre in Coventry, UK. The Liberty team were responsible for building the world's first "ground up" electric truck, and had prepared a strong platform, presenting designs for a pure electric 19-seater bus to accommodate both able-bodied and wheelchair passengers in a flexible configuration. Already at prototype stage with this first design, the technology employed will provide the base for a range of electric buses destined for the North American market.
The kick-off meeting set parameters for electric bus performance for the North American market, including, distance; charging times; speed; acceleration; across a range of buses from 11,500lb GVW through to 33,000lb GVW, covering the most popular segments in the shuttle and school bus markets. Advances in the technology for electric vehicles should see Newport Coach Works launch electric buses with the ability to charge their batteries to 80% in just 30 minutes. This short charging time provides operators with the opportunity to drive much greater distances during the working day.
Carter Read, President of Newport Coach Works: "I have a passion to provide clean and quiet buses for the North American market - ones that provide a cost effective solution for operators and improve passenger comfort dramatically. With the Electric Vehicle technology developed by Liberty, combined with our class leading bus designs we can provide the market with truly exciting solutions. We expect to have our first demonstration buses available to be viewed and driven by operators around mid-2013. The first models will focus on the 19-seat sector, and should be quickly followed by larger capacity buses."
Ian Hobday, CEO Liberty: "By using modular technology we can scale our proprietary Electric Drive train to fit a number of bus sizes and weights. This development builds on our existing technology and can thus be realized in short order, but perhaps more importantly will be based almost entirely on American-sourced components. Together with Newport we're going to design, build and supply the first truly American Electric buses for an American market!"
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 EV's. 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, manufacturers and markets electric vehicle technologies for use in its own converted vehicles and for sale to OEM's 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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