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Greentech buys Hong Kong-based EuAuto

MCLEAN, Va. — Terence R. McAuliffe, chairman of Greentech Automotive (GTA), announced that GTA has acquired EuAuto Technology Ltd., a Hong Kong-based company that specializes in the design, manufacturing, and worldwide distribution of neighborhood electric vehicles (NEV).

EuAuto now becomes a wholly owned subsidiary of GTA. The addition of EuAuto’s NEV to GTA’s product line extends its current family of energy-efficient automobiles into even more affordable niche markets and will enable American families to purchase this electric car as early as 2011.

EuAuto’s electric vehicle, MyCar, was named electric vehicle of the year at the 2008 European GreenFleet Awards.

GTA plans to create thousands of “green collar” jobs across Mississippi, Tennessee and Virginia. At full production, GTA will create over 4,000 new US jobs. The acquisition of EuAuto will bring an additional 300 jobs to the U.S.

In late April 2009, Greentech announced it would locate a $1-billion hybrid vehicle manufacturing facility in Tunica in the Mississippi Delta. The plant would produce 1,500 vehicles a year and employ 1,500 people.

Since then, no news has been released concerning the proposed plant. In April, Lyn Arnold, president and CEO of the Tunica County Chamber of Commerce, reiterated her belief the facility would eventually become a reality.

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