RIVERSIDE, Calif.--(BUSINESS WIRE)--Green Automotive Company (OTCQB: GACR) announces that its Chief Executive Officer, Ian Hobday, sent today the following letter to the shareholders of the Company:
“Dear fellow shareholder, investor in Green Automotive Company,
I am very proud to be able to present you our first all American built 100% pure electric shuttle bus, The e-PATRIOT.
We have been working hard over the past year to achieve our goal to build electric vehicles in America. And we are almost there: Our California subsidiary Newport Coachworks is launching its 100% electric shuttle bus at the LCT Show in Las Vegas.
The fully American built electric shuttle bus, The e-PATRIOT, will be presented for the first time at the upcoming February 16-18th International LCT Show at the MGM Grand Hotel & Casino in Las Vegas (www.lctshow.com). This is one of the largest shuttle and charter events, where Newport Coachworks is presenting its entire shuttle bus range on 2500 sqft of exhibition space.
The e-PATRIOT is produced at Newport Coachworks’ state of the art facility in Riverside, California where the company has been manufacturing its whole range of shuttle buses since February 2013. The e-PATRIOT has been built to the highest specifications using advanced proprietary techniques that utilize innovative lightweight materials. It can travel up to 100 miles on a single charge, has a top speed of 60mph and can be equipped with a fast charging system. Its interior corresponds to the high standards that buyers have come to expect from Newport Coachworks.
I believe that Green Automotive is now at a turning point in the company’s history. Our aim is to sell the electric shuttle bus not only in the USA but also into overseas markets, and to use it as a platform for an electric truck model. According to a new market study published this month by Report Linker, the worldwide market for electric buses and taxis will multiply over 8 times in the next decade, approaching $60 billion not long after that. There should be enough opportunities for us to go after and to drive a successful future.
On a personal note, and writing to you as a fellow shareholder, I see the current share price as an 'opportunity'. I am so convinced, of the future success of GAC, that I am using $160,000 of my salary (representing monies unpaid over an extended period), and will instead take shares in the company. So sure am I that the stock price must eventually reflect the outstanding progress we have already made, and will continue to make in years to come. That's my commitment to GAC!”
About Green Automotive Company visit www.thegreenautomotivecompany.com.
About Newport Coachworks visit www.newportcoachworks.com.
Forward Looking Statements - This release includes forward-looking statements. For a copy of the Company’s full statements regarding forward-looking statements please click here Safe Harbor Statement » Green Automotive Company.
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