SOURCE: Green Automotive Company, Corp

March 01, 2010 09:00 ET

Green Automotive Adds Ian Stuart as New CFO

Company Gets Ready for Expansion

DALLAS, TX--(Marketwire - March 1, 2010) -  Green Automotive Company Inc. (PINKSHEETS: GACR) announced today that it has appointed Ian R. Stuart as the company's new Chief Financial Officer. 

Green Auto CEO Steven Fly stated, "I am honored to have Ian join our team. He brings a wealth of knowledge and expertise to our firm and will provide critical financial stewardship as we move forward with our aggressive growth plans."

Ian Stuart is an experienced financial and operationally oriented executive with considerable SEC reporting knowledge and a broad range of expertise accumulated from working with several industry leading CEOs in various geographic locations and market segments. He began his professional career as an accountant in the UK, moved to the US in 1985 with Price Waterhouse, and joined Travelers in 1991. After 13 years at Travelers/Citigroup in various divisional CFO roles for complex multi-billion dollar business units, the last of which took him to Dallas, Ian joined a start-up operation in 2004. He secured funding for this entity and steered it to profitability. In 2007 he was appointed Interim President and CEO of Access Plans, a small Dallas headquartered, NASDAQ listed company with significant operational challenges. In 2009, he concluded a successful turnaround of Access Plans with a sale that positioned the business for further growth under new management.

"Green Auto has tremendous potential and I am very excited to be part of the team," commented Mr. Stuart. Earlier this year Green Auto secured a three year agreement to be the exclusive North American importer of the Chinese manufactured Zotye 100% Electric SUV vehicle and in the past few weeks has received a tremendous level of interest from several top-tier auto dealerships. Over the next six months, the company expects to build out a robust national dealership network and later in the year begin to generate a meaningful volume of new sales.

About Green Automotive Company Inc.:
Green Automotive Company is the exclusive import/distributor of the all-new all-electric SUV for North America by Zotye International ( For more info or direct inquiries to

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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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