SOURCE: Echo Automotive

Echo Automotive

February 25, 2014 07:30 ET

Echo Automotive Achieves Strategic Milestone

Secures Commercial Customers for Highly Anticipated Beta Program and Production

SCOTTSDALE, AZ--(Marketwired - Feb 25, 2014) -  Echo Automotive, Inc. (OTCQB: ECAU) ("Echo Automotive", "Echo" or the "Company") a developer of technologies enabling the cost-effective aftermarket addition of fuel-efficient plug-in hybrid capability to new or existing vehicles, today announced that it is providing its industry award-winning EchoDrive™ plug-in hybrid system to several customers including a renowned research institution and a municipality at the forefront of alternative fuels adoption. These customers will participate in the Company's beta program and deploy EchoDrive production units later in the year.

EchoDrive beta units are expected to be delivered within the second quarter. Echo Automotive will install the units on customers' existing vehicles, which will immediately be placed back in service within their fleets. Drivers will use the EchoDrive plug-in hybrid powered vans in their standard day-to-day business. Throughout the test period, system data will be captured and reported back to the Echo development team and will be used in fine-tuning the EchoDrive system for production application. Delivery of production volume units is expected later this year.

"We are pleased to announce that almost all of our first year production units have been reserved and that we have begun taking orders for 2015," said Amy Dobrikova, Vice President of Sales and Business Development, Echo Automotive. "Betas will soon be deployed in fleets across the nation within Fortune 500 companies and leading universities, government agencies, municipalities and utilities. The diverse mix of customers speaks to the broad appeal of EchoDrive. Many of our customers are leading the way in alternative fuels adoption and are aggressively pursuing fossil fuel independence through their sustainability programs, others are solely focused on cost savings for their fleets, and all are committed to finding innovative solutions that meet their unique business needs. We are excited to be included in their initiatives and we look forward to sharing their success stories as implementations progress."

"This is a remarkably exciting time for Echo," said Dan Kennedy, Co-Founder and CEO, Echo Automotive. "Our business plan and our sales traction is exceeding our original expectations, and our customers recognize the value that EchoDrive will deliver to their fleets in both the short term and the long term. While our agreements prevent us from naming specific customers at this time, everyone at Echo is pleased to provide our services to the industry-leading companies and organizations that have selected EchoDrive's truly game-changing technology for their fleets."

EchoDrive delivers a non-invasive plug-in hybrid solution for new or existing vehicles without high infrastructure costs. It offers fleet managers a low-cost point of entry to high fuel efficiency as well as a long product lifespan and financing options that make shorter return-on-investment possible. A nationwide network of industry-leading install and service providers supports the EchoDrive system. Production of EchoDrive units for the Ford E-Series platform is scheduled to begin later this year. Production for EchoDrive units supporting the GM 2500 and 3500 platform is expected in early 2015.

About Echo Automotive, Inc. (OTCQB: ECAU)
Echo Automotive™ is a technology company that specializes in delivering cost-effective electrification products and solutions that are purpose-built to maximize fleet transportation efficiency and provide optimal return on investment. The key to Echo's strategy is the bolt-on nature of its solutions, which reduce operating costs and increase efficiency without affecting original vehicle operations. Additionally, Echo offers technology licensing, and consulting in design, energy storage, propulsion, conversions, and vehicle engineering. For more information, please visit www.echoautomotive.com.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, commercial rollout of the EchoDrive™ system in 2014, target market, development of technologies and products, and business strategy. These forward-looking statements are made as of the date of this news release and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

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