DALLAS--(BUSINESS WIRE)--Green Automotive Company Corporation (OTC:GACR) announced today that the Company is negotiating on a Lease for its new Headquarters in Newport Beach, California.
The Company announced late last year that it was planning on moving its executive and vehicle distribution team, together with its financial and vehicle parts and service distribution center, to Southern California, but leaving its Dallas, Texas office open for Dealer support and marketing.
According to Mr. Fred Luke, President of Green Automotive, “Most of the Company’s executive and vehicle distribution team, along with several members of our Board of Directors are located in Southern California. Further, California not only serves as a central point for consolidating the Company’s management, but it is a strategic Port of Entry for ships bringing in the Company’s vehicles from China and is ideal for a national distribution base as California represents the largest and most promising market for Electric Vehicle (EV) Technology.”
Last month, in his State of the Union address, President Barack Obama challenged the United States to put 1 million electric vehicles on the road by 2015. The following day, Vice President Joe Biden outlined the President’s three-part plan for reaching that goal. Frederick Steven Wells, the Company’s co-founder and one of its original Directors, said, “We applaud the President for his recognition of the value of advancing energy technologies that reduce our dependence on imported oil and improve the environment, and we are excited to be a part of the advancement of the ‘green initiative’ and the technology behind the President’s mandate.”
About Green Automotive Company Corporation: Green Automotive Company Corporation is a U.S. public company and the exclusive importer/distributor of Zotye Electric SUVs and Mini-vans throughout North America. The Company is scheduled to launch its line of Electric SUVs and Mini-vans in the U.S. in 2011. For More Info visit www.usaelectricauto.com or write to info@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.