For Immediate Release
McAuliffe Announces Major Expansion Of GreenTech Automotive With Acquisition Of EuAuto, Electric Vehicle Specialists
New Subsidiary Will Bring 300 New Jobs, Building On McAuliffe’s Commitment to Affordable Green Energy and American Jobs
(Hong Kong - 17 May 2010) Terence R. McAuliffe, Chairman of GreenTech Automotive (GTA), announced that GTA has acquired EuAuto Technology Ltd. (EuAuto), a Hong Kong based company that specializes in the design, manufacturing, and worldwide distribution of Neighborhood Electric Vehicles (NEV).
The announcement comes during US Commerce Secretary Gary Locke’s trade mission in Hong Kong. EuAuto now becomes a wholly owned subsidiary of GTA. The addition of EuAuto’s NEV to GTA’s product line extends GTA’s current family of energy efficient automobiles into even more affordable niche markets and will enable American families to purchase this NEV as early as 2011.
GTA plans to create thousands of "green collar" jobs across Mississippi, Tennessee and Virginia. At full production, GTA will create 4,500 new US jobs. The acquisition of EU Auto will bring an additional 300 jobs to the US.
Concurrently with GTA’s acquisition, EuAuto entered into a long-term strategic partnership with Business Center Bornholm as part of the Bright Green Island project in Denmark. Mr. Christiansen, Acting Consul General of Denmark’s Consulate in Hong Kong, witnessed the signing of the partnership agreement.
About GreenTech Automotive
GreenTech Automotive is the newly established US automobile company committed to the advancement of clean automobile technology. GTA is developing vehicles that are energy-efficient, affordable, and built in the United States by American workers. Led by McAuliffe, a leader in politics, business, and promoting green energy, GTA was established to carry out his vision that “no green technology is truly green unless it is affordably green”.www.wmgta.com
