MIAMI BEACH, Fla., Oct. 29, 2014 /PRNewswire/ -- Car Charging
Group, Inc. (OTCQB: CCGI) ("CarCharging"), the largest owner,
operator, and provider of electric vehicle ("EV") charging
services, announced that it plans to expand its operations into
China beginning in the fourth
quarter of 2014. Car Charging China Corp., a wholly-owned
subsidiary of CarCharging, was created to capitalize on
opportunities in China, including
potential government sponsored programs, deploying infrastructure
with CarCharging's existing US-based partners that have locations
in China, developing relationships
with local companies, and expediting the development of EV charging
stations in the world's largest and fastest-growing automotive
market.
The People's Republic of China
has stated its commitment to cleaner-burning vehicles, and earlier
this year, the Chinese government stated its consideration to spend
up to $16 billion (US) to build EV
charging facilities across the country. To reduce pollution and
conserve resources, China will
also exempt electric cars and other types of clean burning vehicles
from purchase taxes.
"As we near the end of 2014, what better way to prepare for the
coming year than to expand our operations into China," said Michael
D. Farkas, CarCharging's Founder and Chief Executive
Officer. "Not only is this the largest and fastest-growing
automotive market in the world, but the Chinese government is
committed to confronting the pollution and environmental
degradation that has coincided with the nation's rapid growth.
Within the transportation sector, this means helping to ensure that
the mass adoption of electric vehicles and other new technologies
is not tied to gasoline combustion. Given the $16 billion
dollars dedicated to the rollout of EV charging stations, we
believe that it is an exciting time to expand our brand in this
important market."
Clearer Horizons LLC, headed by Michael
Cheah Yee Seng and Michael
Lew, is providing consulting services to the Company for its
endeavor into the China
market.
About Car Charging Group, Inc.
Car
Charging Group, Inc. (OTCQB: CCGI) is a pioneer in nationwide
public electric vehicle (EV) charging services, enabling EV drivers
to easily recharge at locations throughout the United States. Headquartered in
Miami Beach, FL with offices in
San Jose, CA; New York, NY; and Phoenix, AZ; CarCharging's business model is
designed to accelerate the adoption of public EV charging.
Through its subsidiary, Blink Network, CarCharging also provides
residential EV charging solutions for single-family homes.
For more information, please visit www.BlinkHQ.com.
CarCharging has strategic partnerships across multiple business
sectors including multi-family residential and commercial
properties, parking garages, shopping malls, retail parking, and
municipalities.
For more information about CarCharging, please visit
www.CarCharging.com, www.facebook.com/Car.Charging, or
www.twitter.com/CarCharging.
Forward-Looking Safe Harbor Statement:
This press release contains forward-looking statements as
defined within Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. By their nature, forward-looking statements and forecasts
involve risks and uncertainties because they relate to events and
depend on circumstances that will occur in the near future.
Those statements include statements regarding the intent,
belief or current expectations of Car Charging Group, Inc., and
members of its management as well as the assumptions on which such
statements are based. Prospective investors are cautioned that any
such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual
results may differ materially from those contemplated by such
forward-looking statements. The Company undertakes no obligation to
update or revise forward-looking statements to reflect changed
conditions.
Investor Relations and Media Contacts:
CarCharging
Media
Contact:
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CarCharging
Investor
Relations:
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Suzanne
Tamargo
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Chris
Witty
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Suzanne@CarCharging.com
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cwitty@darrowir.com
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(305) 521-0200 x
214
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(646)
438-9385
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or:
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Constellation Asset
Advisors
www.ConstellationAA.com
(775)
771-5808
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SOURCE Car Charging Group, Inc.