Green Automotive Co. Takes Minority Stake in Electric Truck, Viridian Motor Corp.
Green Automotive Company (OTCQB: GACR), has announced that it has acquired 21.63% ofViridian Motor Corporation (VMC), a US-based electric truck manufacturer.
On the heels of its experience in the electric truck market in the Europe by virtue of its Liberty Electric Cars business, GAC decided that the American electric truck market was the next sector to develop.
The numbers are compelling. According to a recent Navigant Research study, the global annual unit sales for hybrid and electric trucks – including light duty trucks used by commercial fleets and all medium and heavy duty on-road trucks – will rise from under 10,000 in 2013 to more than 100,000 in 2020.
Ian Hobday, CEO of GAC, states: “There are an important number of synergies to explore especially with regards to supply chain management and commercial activities with our existing Californian bus manufacturing business, Newport Coachworks, who plan to launch their first electric shuttle bus this February. This combination should be very beneficial for both businesses. Viridian would become our support partner for electric buses on the East Coast, where we currently do not have any presence.”
Viridian Motor Corporation (VMC) describes itself as a company “devoted to advancing twenty-first century transportation technology using alternative fuels and propulsion systems.” It is a Virginia-based company building fully electric, light duty trucks using their own electric drive train and unique battery packs.
More info at: www.thegreenautomotivecompany.com and http://www.viridianmotorcorporation.com/.
Category: Featured, General Update, Green, Vehicles
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