SOURCE: Green Automotive Company

May 18, 2015 14:49 ET

Green Automotive Company Announces Additions to Board and Management Team

RIVERSIDE, CA--(Marketwired - May 18, 2015) - Green Automotive Company (OTC PINK: GACR) announced today the appointment of Ben Rainwater and Agnes Cha to its Board of Directors to broaden the Board's experience in the automotive industry. Additionally, Mr. Rainwater was appointed as the Company's CEO and Ms. Cha was appointed as the Company's SVP, Corporate Affairs effective immediately. With the support of Carter Read, GACR's interim President and Secretary and President of Newport Coachworks, Mr. Rainwater and Ms. Cha have been assessing the overall operations of GACR and Newport Coachworks since early January of this year. Based on their assessment work, they have developed an Action Plan that is designed to enhance Newport Coachworks' internal management processes and vehicle production operations, as well as assist GACR in getting current with its public reporting obligations. Additionally, they have been working to attract financing and longer term equity capital to help stabilize Newport Coachworks, develop new products and support additional revenue and growth. 

Mr. Rainwater said, "Carter Read is an industry leader in the design, development and engineering of high-end shuttle buses, which is common knowledge among owners of Newport's Patriot, Atlas and Freedom models and the dealers that represent and sell Newport Coachworks' shuttle buses. Ms. Cha and I are focused on helping Carter with management and procedural elements that will allow Carter to concentrate on the production and sales of Newport Coachworks' current model line-up as we also work together to develop new product offerings. We will have the additional focus of bringing GACR's financial statements and reporting requirements current and to keep it current with its reporting obligations. We look forward to working with Carter moving forward, as we have over these past several months, to help him achieve new levels of production, which will work to strengthen both Newport Coachworks and Green Automotive Company!" 

Carter Read said, "I welcome Mr. Rainwater and Ms. Cha to our team and look forward to working closely with them to further our efforts to build shareholder's equity as we also grow our Newport Coachworks vehicle production and sales volumes."

A 35+ year veteran of the automotive industry, Mr. Rainwater has been recruited and promoted to increasing levels of responsibility as he went on to help successfully launch Mitsubishi, Daihatsu, Kia and Daewoo brand vehicles here in the U.S. market. As a key member of the start-up teams for four (4) separate automobile manufacturer/distributors, Mr. Rainwater has significant knowledge and experience in creating, designing, developing, implementing and growing an entire automobile distribution business from a "blank page". Mr. Rainwater is also CEO of BRAC Global Automotive where his current responsibilities include assessing business needs and developing both short and long-term strategies to improve operational performance/efficiencies directed toward increased customer satisfaction levels and profitability. 

Ms. Cha has more than twenty-years of extensive international business experience that includes negotiating contacts, determining business trade terms, major product acquisitions, and arranging large sum monetary financing. Ms. Cha is multi-lingual and has worked in trans-national, global business environments. Additionally, she is experienced in the areas of automotive financing, automotive distribution, general real estate transactions, commercial/business transactions, litigation management, employment relations, and corporate and case management. She has extensive experience in negotiating and developing international commercial trade terms specifically relating to inventory sourcing and financing, international licensing, distribution arrangements, and capital financing. She has also been a member of the key management team in a start-up business environment and has served as a corporate secretary and Board member.

About Green Automotive Company visit: www.thegreenautomotivecompany.com

Forward Looking Statements - This release includes forward-looking statements. For a copy of the Company's full statements regarding forward-looking statements, please view the Safe Harbor Statement on our website. 

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