GreenTech Automotive Unveils Revolutionary All-Electric MyCar, Marks Creation of 426 Manufacturing Jobs in Mississippi.

GreenTech Automotive (GTA), a U.S.-based manufacturer of environmentally friendly, energy-efficient vehicles, today unveiled its revolutionary MyCar, a two-seat all-electric vehicle that produces zero emissions and provides a range of up to 115 miles. Former President Bill Clinton and former Mississippi Gov. Haley Barbour attended the unveiling, which also celebrated GTA's relocation to the United States, where the company expects to create 426 new manufacturing jobs and support 7,400 more.

"Too many people have given up on American manufacturing, saying manufacturing jobs are not coming back. But GTA set out to prove them wrong," said Terry McAuliffe, chairman of GreenTech. "For too long, America has been inventing products here and sending the production jobs overseas. But we're part of a rebirth for American manufacturing. We're proud to bring manufacturing jobs back and prove that the U.S. is still the world leader in technological innovation and manufacturing."

GreenTech Automotive purchased Hong Kong-based EuAuto in 2010 and relocated the company's operations and manufacturing to the United States. The move was part of the company's strategy to create jobs in the United States and have a positive impact on a local economy in need of revitalization. The company leased a shuttered factory in Horn Lake, where skilled workers are now producing vehicles during the construction of its permanent 300,000-square-foot facility in Tunica, Miss.

GTA projects it will create 426 direct jobs by 2014, and an independent analysis by Evans, Carroll & Associates Inc. found that GTA's operations would create more than 7,400 direct, indirect and induced jobs by 2014. As of July 2012, GTA had more than 840 employees enterprise-wide, and the company is on track to employ more than 900 people by the end of 2012.

Affordability is a key element of GTA's strategy for product development. With an expected base price of $15,500, MyCar will be considerably less expensive than other all-electric vehicles. Future models, including the MyCar EV planned for early 2014, will also be competitively priced. GTA's commitment to affordable alternative energy solutions earned the praise of former President Bill Clinton, who attended the Mississippi unveiling.

MyCar is an ideal solution for corporations, government entities, rental car fleets, and corporate and college campuses in addition to individual transportation use such as commuting and daily errands. In the European Union, MyCar has a top speed of up to 45 miles per hour. In the U.S., MyCar has a top-speed of 25 miles per hour due to regulatory restrictions, classifying it as a Neighborhood Electric Vehicle (NEV). MyCar meets and exceeds all safety standards for its vehicle class.

MyCar is expected to evolve into other vehicle models, including a micro pick-up and delivery vehicle, beginning in 2013. GTA also plans to manufacture a larger MyCar EV beginning in 2014. (7/5/2012)

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