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.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info