INDIANAPOLIS, IN--(Marketwire - Feb 5, 2013) - Echo Automotive, Inc. (OTCQB: ECAU) ("Echo Automotive," "Echo" or the "Company"), a developer of technologies enabling the cost effective conversion of existing fleet vehicles into fuel efficient hybrids, is very pleased to announce that Company executives met with Greg Ballard, Mayor of the City of Indianapolis, last week and he took a personal test drive of an EchoDrive™ equipped Ford E-250 hybrid demonstration vehicle.
Ballard, Mayor of the country's 11th-largest city, signed an executive order in December requiring the city to replace its nearly 500 non-police vehicle fleet with electric or plug-in hybrid vehicles. New vehicles will be purchased as older vehicles are retired, and the City plans to completely transition its current 3,100-vehicle fleet to post-oil alternatives by 2025. Indianapolis already has been recognized by Toyota, Ford and the U.S. Department of Energy as one of the top communities for deployment of plug-in vehicles and charging stations with more than 200 charging stations installed across Central Indiana.
"The movement toward post-oil transportation technology is making considerable leaps," said Mayor Greg Ballard. "These advancements give us greater opportunity to reduce our dependence on foreign oil and strengthen our national security interests."
"The City of Indianapolis is a natural candidate for our technology," adds Dan Kennedy, CEO of Echo Automotive. "Indiana has led a long and rewarding relationship in the electrification of the automotive industry, so it comes as no surprise that local leaders are well informed and ready to embrace practical solutions aimed at delivering tangible results, especially within projected annual budget forecasts. We look forward to working with local civic leaders here in Indiana and in any other municipality looking for fiscally responsible solutions to reduce fleet operating costs with a system that offers a demonstrably meaningful short term return on investment."
To watch Mayor Ballard's test drive, go to: http://www.echoautomotive.com/media-link/mayor-ballard.
The Company launched EchoDrive™ in late 2012, as a bolt-on easy-install system that converts existing fleet vehicles to electric assist, aimed at providing rapid return on investment through easily attainable cost-saving performance.
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 Automotive, Inc. develops technologies and products designed for cost effective conversion of existing vehicles into highly fuel-efficient hybrids and plug-in hybrids. EchoDrive™ is the Company's flagship product launched in late 2012 as an integrated hybrid system aimed at converting existing fleet vehicles to electrically assisted powertrains offering fleet managers an immediate low cost alternative to the high capital investment of relatively unproven, all-new electric vehicle designs. The key to Echo's strategy is the bolt-on nature of its solution that introduces little or, in some cases, no additional points of failure, making it very low risk compared to competing solutions. To find out more 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 8-K filed October 15, 2012, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.