SOURCE: Ganas Corp.

November 18, 2009 13:00 ET

Ganas Corporation Acquires Go Green USA, LLC

First Major Chinese Electric SUV to Be Distributed in USA

DALLAS, TX--(Marketwire - November 18, 2009) - Ganas Corporation (PINKSHEETS: GNAS) announced today the completion of its acquisition of 100% of Go Green USA LLC, the nation's premier importer and distributor of a 100% Electric Sport Utility Vehicle (SUV) with a range of up to 250 miles on a single charge and a top speed of 70 MPH. Ganas Corporation will change its name to Green Automotive Company Inc. in connection with such acquisition.

Green Automotive Company will be the sole North American distributor for the all new Zotye all Electric SUV manufactured in China by Zotye International Holding Company ( Green Automotive Company was formed to take advantage of the need for "Green" environmentally sound car alternatives. As the price of oil continues to rise, the demand for high-quality, environmentally friendly and fuel-efficient vehicles will dramatically increase. The 2010 Zotye EV-100 is a Chinese manufactured vehicle that is an all electric SUV and offers unprecedented and affordable pricing at a time when the economy is reducing disposable consumer income. At a Manufacturer Suggested Retail Price (MSRP) of $29,995, Green Automotive Company will provide the first major Electric Vehicle for all purpose use. Distribution of this highly efficient and affordable SUV is part of the plan of bringing creative products to market and matching them with consumer needs. Green Automotive Company will capitalize on the US trend towards eco-friendly ultra-efficient electric powered cars representing Zotye International Holding Company.

The Zotye Electric SUV Vehicle has: A/C & Heat, Power windows/Power locks, DVD Audio System, Integrated electric system monitoring screen (Monitor battery status, vehicle speed, charging status, Regular On Board Charging (front) and fast charging port (right side), Automatic transmission (8:1 ratio), Five Door 4 seats Electric SUV (Lithium Ion Battery) Max Speed: up to 70 mph, with a range of up to 250 miles). The Vehicle also comes with a 185,000 Mile Warranty

Steven Fly, Chairman/CEO, stated, "This is a great time for our company and the thousands of consumers that have been demanding quality Electric Cars. We have a great strategic partnership with the manufacturer, a terrific distribution plan with dealers Nationwide and one of the best management teams in the industry consisting of dedicated and talented auto industry execs. We have an aggressive plan for sales and look forward to building a large and successful company."

The Vehicles will be sold Nationwide through an exclusive authorized dealer network with complete back up, support and warranty from the factory. Dealers will have exclusive territories and minimum annual production and sales quotas. The first SUV is expected to arrive in Los Angeles in January 2010 with a National Press tour as the SUV travels from Coast-to-Coast on a 100% electric ride.

Green Automotive Company will provide Dealers with the first all purpose Zotye Electric SUV in the United States and offer exceptional value to the consumers while offering a robust and highly strategic market position for our Dealer Clients.

Zotye International was established on January 14, 2005, and is a subsidiary of Zotye Holding Group. Zotye International is a foreign trade company and manufactures the all NEW ELECTRIC ZOTYE SUV. Zotye International has been striving for distribution of these all electric cars in the international market such as North America, Africa, East Europe, and other areas of the world as a basis to create a demand for electric vehicles. Zotye has established sales and after-sales service networks in more than 10 countries. Zotye International manufactures The Electric Zotye automobile as well as vehicles like motor cycles, auto parts and relevant accessories, castings, forgings, and other mechanical and electrical products. Zotye is also involved in technological advancements, joint capital cooperative trade, compensate trade, certificate trade, autos and other parts.

About Green Automotive Company Inc:

Green Automotive Company Inc. is a Delaware Corporation that is involved in the import/distribution of Electric Cars/SUVs to North America.

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About Zotye:

Zotye International Holding Company is Chinese Corporation and a subsidiary of Zotye Holding Group. Zotye International is a foreign trade company and manufactures the all new electric ZOTYE SUV.

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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. Ganas Corporation 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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