SOURCE: Echo Automotive

Echo Automotive

August 29, 2013 07:30 ET

Echo Automotive Provides Business Update and Files Second Quarter 2013 Results

Reports Progress on Pilot Program and Expanded Service Network

SCOTTSDALE, AZ and ANDERSON, IN--(Marketwired - Aug 29, 2013) - Echo Automotive, Inc. (OTCQB: ECAU) ("Echo Automotive," "Echo" or the "Company"), a developer of technologies enabling the cost-effective conversion of new and existing fleet vehicles into fuel-efficient hybrids and plug-in hybrids, today announced that it has filed financial results for the three and six months ended June 30, 2013, with the U.S. Securities and Exchange Commission ("SEC"). The Company also reported continued progress on its EchoDrive™ aftermarket hybrid conversion platform, including advanced discussions with major fleet operators regarding its pilot program to commence later this year. The Company remains on track to commence full-scale commercial production in 2014.

"The Company is making great progress on the development and services fronts, and is on track to launch the EchoDrive pilot program later this year," said Jason Plotke, President and Chairman, Echo Automotive. "We are in advanced discussions with a number of major fleet operators that have expressed significant interest in working with us because we offer a simply elegant solution and non-invasive technology that is easy to understand and even easier to use. We offer the lowest cost plug-in hybrid option on the market, and we can effectively demonstrate the value we can drive to the customer's bottom line. In addition, we have expanded our installation and service network, which now includes over 1,800 service locations and coverage in all 50 states."

"Upon completion of the pilot phase, we look forward to transitioning into full-scale commercialization of the technology in 2014. Initially, the EchoDrive platform will be configured for the Ford E-250 series, which is the industry leader in its category and a clear favorite of light-to-medium duty fleet operators as evidenced by nearly 600,000 registered E-series fleet vehicles," added Dan Kennedy, CEO, Echo Automotive. "Over time, additional configurations for other makes and models will be strategically added to the EchoDrive platform to ensure we serve the diverse and evolving needs of our target market."

Additional details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database. For more information, visit our website at: www.echoautomotive.com.

About Echo Automotive, Inc. (OTCQB: ECAU)
Echo Automotiveis a technology company that specializes in delivering cost-effective electrification solutions that are purpose-built to maximize fleet transportation efficiency and provide optimal return on investment. The company's initial offering, EchoDrive, is a bolt-on aftermarket hybrid conversion platform that augments existing fleet vehicle capabilities while reducing operating costs and increasing range and efficiency without affecting existing 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, the inherent uncertainties associated with new technologies and development stage companies. 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 current report on Form 10-K filed August 16, 2013, and 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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