SOURCE: Echo Automotive

Echo Automotive

March 13, 2014 07:30 ET

Echo Automotive Awards Fuel Efficiency Improvement of Over 50% in Ride & Drive Contest

First Place Winner, First-Time System User Demonstrates Substantial Gain With EchoDrive

SCOTTSDALE, AZ--(Marketwired - Mar 13, 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 substantial fuel efficiency increases demonstrated by the winners of the EchoDrive™ Most Efficient Driver contest at the NTEA's 2014 Work Truck show. FleetCarma, a provider of vehicle monitoring and modeling technology that helps fleet managers identify the best alternative fuel solution for each duty cycle in the fleet, validated contest driver performance and showed first place results achieving an efficiency improvement of 58%.

"We are excited to have our results validated by FleetCarma and to demonstrate the substantial gains truly possible with EchoDrive," said Amy Dobrikova, Vice President of Sales and Business Development, Echo Automotive. "The performance improvements we witnessed at the Work Truck Show Ride & Drive are even more impressive when you consider the top three drivers had never driven an EchoDrive powered vehicle before. This speaks to the ease of use of the solution, the quick adoption possible by drivers, and the significant impact EchoDrive can have in real-world scenarios. As we have seen, drivers can achieve fuel efficiency gains of 50% or more, especially as they become more comfortable using the system, and that means significant cost savings for fleets."

"Echo Automotive is truly providing an exciting option for fleet operators wanting to reduce total cost of ownership with plug-in electric vehicle technology," said Eric Mallia, General Manager, FleetCarma. "We are pleased that Echo Automotive has relied on us to report real-world savings by utilizing the FleetCarma EV monitoring system. The future for fleet electrification continues to get brighter with more options than ever before, and we want to make sure that fleets get all the data they need to validate their purchase decisions and to ensure successful EV management going forward."

Winners of Echo's Ride & Drive contest were announced at the Company's press conference held Thursday, March 6. Prizes and certificates of achievement were awarded to the three most fuel-efficient drivers. First place honors went to Mark McGregor, President, Clean it up Mark, who achieved an impressive 58% improvement from baseline in his first outing behind the wheel of an EchoDrive-powered vehicle. Second place was awarded to Claude Masters, Manager of Vehicle Acquisition and Fuel Fleet Services, Florida Power & Light, who achieved 45% improvement from baseline. Mr. Ogonna Ezeokoli, Fleet Services Engineer, Alabama Power Company took third place with a 44% improvement from baseline. All three winners were first-time users of the EchoDrive system.

The Company thanks everyone who participated in the Ride & Drive contest and visited the Echo exhibit at the Work Truck Show, and congratulates the contest winners for their achievements in fuel efficiency improvement using the EchoDrive plug-in hybrid system.

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.

About FleetCarma

FleetCarma, a division of CrossChasm Technologies Inc., provides fleet telematics technology and services, specializing in electric vehicle monitoring for fleet operators, utilities, researchers, and various strategic integrators. Its portfolio of services also includes fleet scenario modeling that ensures fleet operators are maximizing the long-term benefits of their fuel efficiency choices by best matching vehicle options with fleet needs and duty cycle parameters. For more information visit www.fleetcarma.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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