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Green Automotive Company Continues All-Electric SUV Testing

^{Published on 2011-06-29 08:40:43 - Market Wire}
 

NEWPORT BEACH, Calif.--([ BUSINESS WIRE ])--Green Automotive Company Corporation (OTC:GACR) announced that vehicle testing and evaluation is continuing on its All-Electric SUV.

"After the Phase I Vehicle Assessment test which was completed for Green Automotive in February"

aAfter the Phase I Vehicle Assessment test which was completed for Green Automotive in February,a said Ben Rainwater, Executive Consultant to the Company, ait was determined that the All-Electric SUV should be subject to a side impact test and in particular the Federal Motor Vehicle Safety Standards (FMVSS) part 214 Oblique Pole Test primarily because it is the more stringent of three (3) separate side impact tests that are required to comply with FMVSS 214. Additionally, the decision was made to perform this test without a side curtain or side air bag installed in the vehicle. In this configuration, we would have a baseline from which additional vehicle engineering assessment and development would be performed, which included side curtains and side air bags. In addition, a going forward plan was to be developed.a

In Mr. Rainwatera™s report to the Company, he indicated that the side impact test was performed last week and the preliminary test data indicates the vehicle was well within the performance standards for two (2) of the six (6) test parameters, while the results for the four (4) other parameters exceeded. aThis was expected,a said Mr. Rainwater, abecause the vehicle was tested without a side curtain or side air bag. After a very preliminary review of the test data and an initial consultation with an air bag supplier, it appears that properly developed and installed side curtains and side air bags will greatly improve the test results and may bring the vehicle into compliance with FMVSS 214 requirements, which will be confirmed by additional testing.

aNow that the Company has performed this side impact test and has recorded this baseline test data for the All-Electric SUV,a continued Mr. Rainwater, awe have a solid understanding of where we are now and where we need to be in relationship to compliance with FMVSS 214, and the Oblique Pole Test in particular. Next, we will continue to develop a complete solution for this specific side impact test result as we also continue other testing related to compliance with the DOT FMVSS requirements.a

According to said Fred Luke, President of Green Automotive, the Company is making every effort to stay on track toward meeting its goal of launching retail sales of the All-Electric SUV in the US through a network of selected dealerships by the end of this year. aThis particular test,a said Mr. Luke, aand those we will be doing on an ongoing basis, will ensure this vehicle is fully compliant with all DOT FMVSS requirements before we introduce it to the US market.a

Green Automotive Company Corporation Corporate Office is located at 23 Corporate Place, Suite 150, Newport Beach, California 92660; Green Automotive Company Corporation Dealership Services Office is located at 720 Valley Ridge Suite 5, Lewisville, Texas 75057.

About Green Automotive Company: Green Automotive Company Corporation is a U.S. public company involved in the import and distribution of Eco-friendly vehicles in the U.S. The Company, through its offices in Newport Beach and Los Angeles, California, its Dealership Services Office in Lewisville, Texas, and its Chinese liaison office in Shanghai, is an importer and distributer of Eco-friendly vehicles throughout the United States. The Company is currently preparing an All-Electric SUV vehicle for retail sales in the US beginning as early as December 2011. The Company's shares are traded on the OTC Market Tier--OTC Pink Current under the symbol "GACR". 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 Corporation 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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