SOURCE: Ganas Corp.

February 10, 2010 09:00 ET

Green Auto Signs Exclusive North America License Agreement

New 100% Electric SUV Set for Distribution

DALLAS, TX--(Marketwire - February 10, 2010) -  Green Automotive Company Inc. (PINKSHEETS: GACR) announced today that the company has signed the official Exclusive Sole Agency Agreement for North America of the 100% all-new all-electric Sport Utility Vehicle (SUV) manufactured in the People's Republic of China. The Company also obtained its new trading symbol and name change from FINRA.

Green Auto CEO Steven Fly recently completed a two week extensive tour of the factory, met with the executives of the Company, test drove the all-new all-electric SUV and arranged for the first shipment of the SUVs to the United States. Fly stated, "I was amazed at the quality of the SUV and its incredible speed."

Green Auto is preparing a spectacular marketing and media unveiling in Dallas, TX during March 3rd-7th, 2010 at the Dallas Auto Show in the Dallas Convention Center. The Dallas Auto Show was conceived in 1982 and now boasts attendance by more than 300,000 auto enthusiasts. Info:

Steven Fly said, "We are thrilled to be able to unveil the new Zotye 100% Electric SUV in our city at one of the largest and most active Auto Conventions in America. We have had tremendous inquiries and look forward to signing dealers to exclusive territories and shipping the new vehicles."

The electric auto industry is buzzing with the upcoming Tesla (Electric Car) IPO that has received enormous attention on Wall Street. The $100,000,000 IPO is being underwritten by Goldman, Sachs & Company, Morgan Stanley, J.P. Morgan, and Deutsche Bank Securities (price of the offering is still being negotiated). Info:

In other news, Better Place,, a closely watched start-up that hopes to create vast networks of "charge spots" to power electric cars, received a vote of confidence in the form of $350 Million in new venture capital. HSBC is leading the new round of financing, contributing $125 Million in exchange for a 10 percent stake in Better Place. That gives Better Place a market value of $1.25 Billion.

Green Auto is also creating a new, aggressive public relations and media tour which will be led by seasoned Broadcast and Media Staff who will be scheduling a national tour, as well as promotional and dealer campaigns. Info:

The Zotye Electric SUV Vehicle has: A/C & Heat, Power windows/Power locks, DVD Audio System, Integrated electric system monitoring screen (Monitor battery status, vehicle speed, charging status), Regular On Board Charging and fast charging port, Automatic transmission (8:1 ratio), Five Door 4 seats Electric SUV (Lithium Ion Battery) Max Speed: up to 75 mph, with a range of up to 250 miles. The Vehicle also comes with an 185,000 Mile Warranty. Info: (

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About Green Automotive Company Inc.:
Green Automotive Company is an import/distributor of Electric Cars/SUVs to North America. More info:

Safe Harbor Statement -- This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Green Automotive Company Inc. does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.

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