DALLAS--(BUSINESS WIRE)--Green Automotive Company Corporation (OTC:GACR) President Fred Luke announced today that the Company has been selected to be featured on Million Dollar Entrepreneur, a new Reality TV Series devoted to telling the behind the scenes story of the issues management of emerging, start-up or development-stage companies experience to become successful.
The first segment of the new weekly-aired TV series is scheduled to preview early this summer, and will follow four to five rapidly growing companies in new, emerging industries from start-up to present day.
The selection of Green Automotive as one of the first companies to be showcased follows a year-long period of growth and change for the Company, beginning in early 2010 when the Company landed an exclusive import and distribution agreement involving Chinese made All-Electric Vehicles.
“The Company is a perfect candidate for this type of ‘Reality TV’ program,” said Alan Edwards, President of Million Dollar Entrepreneur Inc., a US subsidiary of Navitas Ltd. “The show is scheduled to air on the ION channel, which currently reaches 98 Million households, and will take the viewers back-stage in the daily activities, the personnel and financial struggles, the negotiations and the process of coming up with the solutions that face practically every company with new technology, or a new ‘mousetrap’ they are trying to get to market ahead of larger, better capitalized and/or established competitors.”
Green Automotive first emerged in the rapidly growing “green space” with its announcement in early 2010 to bring All-Electric Vehicles into the U.S. “Since our announcements in early 2010, the Company has undergone some significant changes,” said Frederick Steven Wells, a co-founder and Director of the Company. “It’s been a year of meetings in China and here in the U.S., with people and competitors coming and going, but it’s all been positive and allowed us to take our business, each time, to the next level.”
Over the last few months the Company has announced the completion of a Department of Transportation Title 49 assessment of its all-electric SUV and a realignment of its management team, with Mr. Luke replacing Mr. Stephen Aust as President and Mr. Dan Elliott stepping down as the Company’s CEO. This month the Company announced that it was in negotiations with Mr. Ben Rainwater to re-join the Green Automotive management team at a higher level with the opportunity to have a greater impact on the Company’s overall business, the possible addition of Mr. Jack Tian as an officer of the Company, and the extension of the Company’s agreement with the Chinese All-Electric Vehicle manufacturer. Last week, the Company announced the purchase of nine (9) All-Electric Vehicles for final DOT FMVSS testing and, last week confirmed ongoing talks with the Chinese manufacturer are continuing which, according to Mr. Wells, “should help further facilitate the Company’s efforts to bring its All-Electric Vehicle line to the US market before the end of this year.”
“Over the last three months the Company has seen some significant forward movement,” said Mr. Luke. “While it’s too early for me to discuss many details, anyone following our announcements lately should be able to see where we are heading.”
About Green Automotive Company Corporation:
Green Automotive Company Corporation (OTC:GACR) is an importer/distributor of Electric Cars/SUV’s in the United States. The Company scheduled to launch its line of Electric SUVs in the U.S. in 2011. For more information go to: www.usaelectricauto.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 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.