Green Automotive Company Acquires UK-Based Liberty Electric Cars Ltd.

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--

Green Automotive Company (GACR) today announced it has closed the acquisition of Liberty Electric Cars Ltd. following its announcement on June 29th of the signing of a definitive agreement to acquire the Liberty business.

The combined businesses will now have operations in North America, Europe and Australasia and will continue to expand through a combination of organic growth and targeted acquisitions.

Commenting on the acquisition, Fred Luke, President of Green Automotive, said: Were delighted to have closed this acquisition, which I believe will accelerate our growth as the Liberty management team has state-of-the-art EV technology that would have take us another year or longer to develop. What theyve achieved in Europe has been quite remarkable and we expect their combination of technical excellence and industry knowledge to help give us an edge in this fast growing business. In particular, access to their expertise in conversion programs will help to accelerate our plans to have pure electric buses, shuttles and limos on the road in the very near future.

Ian Hobday, Managing Director of Liberty, said:This is an exciting opportunity for us to bring our class-leading technology to the biggest market place in the world, and were keen to help Fred and his team make this happen. Weve got some incredible products in the pipeline which will really appeal stateside and we cant wait to see them on American roads. Im very proud of the management team weve built at Liberty and what theyve been able to achieve. We look forward to working with the GAC people to make our combined business really fly.

About Green Automotive Company: Green Automotive Company is a US public company involved in the conversion, import and worldwide distribution of eco-friendly vehicles. The Company is presently planning to bring all-electric and other eco-friendly vehicles into the United States market through a combination of converting piston-engine vehicles and importing existing EVs. The Company is currently involved in assessing a number of all-electric and alternate fuel vehicles, including an all-electric intra-city and municipal mass transit bus and school bus, for introduction to the US market. GAC recently acquired Liberty Electric Cars Limited, a UK-based company that designs, develops, manufacturers and markets electric vehicle technologies for use in its own converted vehicles and for sale to OEMs for incorporation into their production. It provides a full aftermarket program to electric vehicle users to ensure the longevity of their vehicles and has partnership arrangements in other European countries. The Liberty team can count on over 200 man years of experience in the automotive industry and specifically 70 plus man years in the EV sector covering some 2,500,000 miles. Green Automotive Company maintains its Corporate Office in Newport Beach, California. Green Automotive Company shares are traded on the OTC Market Tier - OTC Pink Current under the symbol "GACR." For more information visit http://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 Exchange 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, the 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 incorporates by reference its disclosure and financial statements posted on http://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.

Continued here:
Green Automotive Company Acquires UK-Based Liberty Electric Cars Ltd.