Green Automotive Company Announces Major Increase in Order Book of Its Subsidiary Newport Coachworks
Green Automotive Company Announces Major Increase in Order Book of Its Subsidiary Newport Coachworks Inc. as Don Brown Bus Sales Inc. Increases Initial Order by 50%
Green Automotive subsidiary, Newport Coachworks Inc. announces that Don Brown Bus Sales Inc. has added to its initial agreement, an order for an additional 144 buses over 24 months
NEWPORT BEACH, Calif.--(BUSINESS WIRE)-- Green Automotive Company (OTC:GACR) today announced that its subsidiary, Newport Coachworks Inc., has received from Don Brown Bus Sales Inc. (donbrownbus.com), one of North America's leading bus distributors, a major increase to its original order. This supplementary order will result in Newport Coachworks increasing its production by 6 buses per month over the next 2 years.
This additional order is for a mix of Limousine-type buses and shuttle buses. Limousine-type buses are a very luxurious and a specialized version of the more traditional shuttle bus, providing all of the luxury expected in a typical stretch Limousine and operators with the ability to carry more passengers. Limousine-type buses have proven to be a huge success with Livery operators over the last 10 years, gradually replacing traditional stretch Limousines.
Confirming the additional order for Don Brown Bus Sale Inc., General Sales Manager AJ Thurber says, "With the shake up in the bus manufacturing industry, we're delighted to be working with Carter and his team at NCI. Having just seen his new premises and the commitment he has made to become a leading player in this industry we think he makes the perfect partner for DB bus sales."
Carter Read, President of Newport Coachworks, "With the progress we've made already on the first order for Don Brown, we're pleased that our hard work has been recognised with a second order. It's a credit to my team, their efforts and the support from GAC. I expect our relationship with Don Brown to develop further from here and I think they, and their customers, will be very excited at some of the new technology we will deploy in our builds. Technology that will lead to a longer life for the buses, greater pleasure for the passengers and higher levels of safety. Another good day for manufacturing in America!"
About Green Automotive Company
Green Automotive Company is a state-of-the-art niche vehicle design, engineering, manufacturing, and sales company, driving innovation in the use of cutting edge zero and low emission technologies. We also provide a comprehensive after sales program maximizing the life time value of clean transport solutions. Green Automotive Company possesses a unique portfolio of synergistic and innovative businesses that are active in 3 main market segments: Advanced vehicle technology development, engineering & design with a focus on zero and low emission solutions; Manufacturing and customization of vehicles for niche markets with the potential to be converted into low emission or electric vehicles and After sales support programs for electric or low emission vehicles including parts, servicing and repair. Our 2 main divisions servicing these 3 segments are Liberty Electric Cars Ltd and Newport Coachworks Inc. Liberty Electric Cars Ltd designs and develops EV technologies for use in its own converted vehicles and for sale to OEM's for incorporation into their production. In addition, it provides a full aftermarket program for electric vehicle users to ensure the longevity of their vehicles. The Liberty team can count on over 200 man years of experience in the automotive industry and specifically 95 plus man years in the EV sector covering some 12,000,000 miles. Newport Coachworks Inc. specializes in building high quality shuttle buses, running on a variety of energy sources from petrol and diesel though to CNG. The company is run by Carter Read, an industry leader in the bus and limo manufacturing business in North America where he has been responsible for building over 10,000 buses and limousines in his career.
Green Automotive Company shares are currently traded on the OTC Market Tier--OTC Pink Current under the symbol "GACR". For further info, visit www.thegreenautomotivecompany.com
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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