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NEWPORT BEACH, Calif.--([ BUSINESS WIRE ])--Green Automotive Company (OTC:GACR) announced today that the Company timely filed its Quarterly Consolidated Financial Statements for the period ending September 30, 2011 with OTCMarkets.com together with the related [ Interim Financial Report ]for the same period.

"as this will provide greater transparency to our shareholders and is one of the last remaining conditions to move forward with several of the private equity investment firms, both in the US and Asia, who have made new equity investment proposals, which collectively exceed $20,000,000 in new equity."

The Company reported a loss of $982,930 or $.05 per share for the quarter ended September 30, 2011, bringing the total loss for the Company since inception to $3,259,355 or $.01 per share which, according to Fred Luke, Green Automotive Company President, ais in line with our projected budget and primarily reflects our investment in vehicles and the expenditures required to properly test vehicles we intend to introduce into the U.S. market to make sure they meet or exceed the Department of Transportation and Federal Motor Vehicle Safety Standards.a

aSince the beginning of the summer,a said Mr. Luke, awe have made considerable progress on our homologation activities, expansion of the Companyas business segments beyond simply importing and distributing foreign-made vehicles, and our move forward to become fully reporting with the Securities and Exchange Commission. Weave also completed the first phase of our acrash testing,a our re-incorporation in Nevada became effective for accounting purposes on September 30^th, and, in early October, we closed on the acquisition of Matter of Time I Inc., which is now a wholly-owned subsidiary of the Company along with GAC Automotive Services Inc. and GAC EV Motors Inc. Additionally we licensed the rights to manufacture and distribute an all-electric commercial deliver truck. With these additional aspects of our business foundation in place, we intend to move forward with our homologation activities, the development of a Vehicle Assessment Center facility in Shanghai, and finalizing additional target acquisitions.a

aWe intend to have Green Automotive fully reporting before the end of the year,a said Mr. Luke, aas this will provide greater transparency to our shareholders and is one of the last remaining conditions to move forward with several of the private equity investment firms, both in the US and Asia, who have made new equity investment proposals,which collectively exceed $20,000,000 in new equity.a

About Green Automotive Company: Green Automotive Company Corporation is a U.S. public company involved in the import and distribution of Eco-friendly vehicles. The Company is presently planning to bring All-Electric and other Eco-friendly vehicles into the United States market. The Company is currently testing an All-Electric SUV and an all-electric MPV for introduction to the U.S. market in 2012. The Company maintains its Corporate Office in Newport Beach, California and its Dealership Services Office in Lewisville, Texas. 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 [ 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.