SOURCE: Saleen Automotive, Inc.

Saleen Automotive, Inc.

June 15, 2015 08:00 ET

Saleen Automotive Signs Progressive Licensing Agreement for Cars and Parts

Expands Marketing and Distribution Agreement With GreenTech Automotive, Inc.

CORONA, CA--(Marketwired - Jun 15, 2015) - Saleen Automotive Inc. (OTCQB: SLNN)

Following up the successful debut of the Saleen model lineup at the Shanghai Auto Show, Saleen Automotive and GreenTech Automotive, Inc. (GTA) have expanded their existing marketing and distribution agreement through the signing of a new Intellectual Property License Agreement. This agreement includes expanded distribution as well as an exclusive Saleen brand and technology licensing agreement for the Asian market.

Since the initial marketing and distribution agreement, executed March 2014, GTA has fully campaigned the lineup of Saleen vehicles at the Beijing, Chengdu, Guangzhou, and Shanghai Autoshows to much fanfare and local market brand acceptance.

"Just getting a little attention in any market can sometimes take decades of persistence," said Steve Saleen, CEO of Saleen Automotive. "GTA and their team have managed to quickly bring Saleen into the forefront of the performance market in China, and have proven that they are dedicated to the continuing expansion of the Saleen brand and product distribution in the rest of Asia."

A new entity, Saleen Motors International (SMI), which is a wholly owned subsidiary of GTA and not affiliated with Saleen, will be used by GTA to distribute Saleen branded products.

This agreement also coincides with the release of the new 2015 Mustang, which is available globally for the first time in its 50-year history. With China's automotive market being the largest in the world with 19.71 million new cars sold last year and with global automotive sales slated to reach 117 million new cars annually by 2020, according to JD Power, this marketing, distribution, and licensing agreement couldn't have come at a better time.

Saleen Automotive, Inc. .
Saleen is an American specialty manufacturer of high performance vehicles, technical performance parts, lifestyle accessories and apparel. Founder Steve Saleen has continually set the bar for automotive design and performance engineering in both street and racing applications. Saleen plans to utilize its existing strategic partnerships and dealer network to refine its design and engineering prowess, continue development of emerging automotive technologies, and expand its presence nationwide with a combination of automotive retail services, aftermarket parts and new vehicle sales to build significant long-term value. Learn more at www.saleenautomotive.com.

About GreenTech Automotive. .
GreenTech Automotive (GTA) is a U.S.-based automotive manufacturer dedicated to developing and producing environmentally friendly, energy-efficient vehicles. GTA's core values encompass green technology, affordability and U.S. job creation. GTA operates a pilot manufacturing facility in Horn Lake, Mississippi, and is constructing a new manufacturing facility in Tunica, Mississippi. For more information, visit www.wmgta.com.

For more information and updates regarding Saleen Automotive visit the following online locations:
Company website: www.saleenautomotive.com
Facebook: www.facebook.com/Saleen

Information about Forward-Looking Statements .
This press release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company's products, the introduction of new products, the Company's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company's liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in the Company's filings with the United States Securities and Exchange Commission. An example of such forward looking statements in this press release include statements regarding the Company developing and completing successful new car projects. For a more detailed description of the risk factors and uncertainties affecting Saleen Automotive, please refer to the Company's recent Securities and Exchange Commission filings, which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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