SOURCE: EVCARCO

EVCARCO

October 22, 2013 09:00 ET

EvCarCo, Inc. Secures Electric/Hybrid Vehicle Technology Rights

Management Is Negotiating Return of Equity From American Rodsmith

FT. WORTH, TX--(Marketwired - Oct 22, 2013) - EvCarCo, Inc. (PINKSHEETS: EVCA) announced today that the Company has secured a license for electric/hybrid vehicle technology. The technology allows for the production of lightweight fully wheel chair accessible electric and hybrid buses and has the capability to be utilized for niche utility vehicles such as garbage trucks and city utility vehicles.

Automakers sold 54,855 hybrids in August 2013, according to Autodata Corp., a sales tracking firm. This is an industry record and represents a 32% increase from the same period in 2012. Sales of rechargeable cars, which include plug-in hybrids, also set a new record in August 2013 with sales of 11,392 units. This represents a 147% gain from the same period in 2012.

Researchers at Frost and Sullivan recently released a Strategic Analysis of Global Hybrid and Electric Transit Bus Market that highlights the dramatic expected growth of this industry. Their findings point to a market penetration of 9.8 percent for hybrid transit buses and 5.4 percent for pure electric buses by 2020. Together, by 2020 hybrid and electric bus unit shipments will reach close to 42,000 units and worldwide sales will be growing at a compound annual growth rate of 20.6%.

Walter Speck, Chairman of EVCA, said, "Securing this technology is a very good fit with the EvCarCo EV business plan. I believe this will provide long term shareholder value and opportunity for EVCA and will continue to support this direction."

EvCarCo also announced that management is negotiating the return of the Company's shares as it relates to the American Rodsmiths transaction. The acquisition of ARS is not consistent with new management plans to focus on the environmental technology sectors and will no longer be pursued.

EVCARCO, Inc. is a Future Driven® Automotive Retail Group focused on deploying a coast-to-coast network of eco-friendly dealerships and vehicles. The Company sells or leases new & pre-owned all electric, alternative fuel and hybrid vehicles from most auto makers. For additional information regarding EVCARCO visit: www.evcarco.com.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. Additional information respecting the factors that could materially affect the Company and its operations are contained in its annual report on Form 10K and Form 10-Q as filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statement.

Contact Information

  • Investor Relations Contact:
    Jack Eversull
    The Eversull Group, Inc.
    972-571-1624
    214-469-2361 fax
    Email Contact