Global Green Cars Commits to Build an Electric Vehicle Plant in Kentucky
September 04 2009 - 2:20PM
Marketwired
Global Green Cars, Inc. (GGCI) announced today that it will proceed
with its plan to build an electric vehicle production facility in
the State of Kentucky.
Earlier this year, Governor Steven L. Beshear of the State of
Kentucky pledged his support for this electric vehicle production
facility and on May 28, 2009, the Kentucky Economic Development
Finance Authority approved a $15.5 million dollar financial
incentive package for GGCI to build this facility.
Global Green Cars announced its commitment to go forward with
this plan on September 1, 2009, which was announced by Kentucky
media the same day. Please see media coverage and webcast video by
WYMT News on September 1, 2009, at
http://www.wkyt.com/wymtnews/headlines/56667702.html
GGCI had been waiting to simultaneously announce this commitment
with the unveiling of their 2010 G-3 Electric Truck model. The
unveiling took place at the Rocky Mountain Speedway in Utah last
week (see GSPI's press release and video at
http://www.greenstarusa.com/news/09-08-31.html).
The Company plans on completing the transition of their
personnel and operations from Idaho to Williamsburg, Kentucky by
October 2009. Global Green Cars is planning to produce first stage
vehicles in 2010 in a temporary facility and to scale up to mass
production in 2011 in a new facility built to meet anticipated
demand for its electric vehicles.
Upon completion of the building, assembly lines and logistical
peripheral structures, the new facility in Williamsburg will be
capable of producing up to 30,000 electric cars and trucks per
year.
About Global Green Cars
Global Green Cars (GGCI) is a private company with an
International Automobile Consortium of auto industry partners, part
suppliers, and electric vehicle component suppliers that have
strategic plans for mass production of high performance electric
vehicles in the United States and abroad. Green Star Products is a
strategic alliance partner providing engineering and technology to
the GGCI Consortium. For more information visit
http://www.GlobalGreenCars.com.
About Green Star Products
Green Star Products, Inc., (PINKSHEETS: GSPI) is an
environmentally friendly company dedicated to creating innovative
cost-effective products to improve the quality of life and clean up
the environment. Green Star Products and its Consortium are
involved in the production of green sustainable goods including
renewable resources like algae biodiesel and clean-burning
biofuels, cellulosic ethanol and other products, as well as
lubricants, additives and devices that reduce emissions and improve
fuel economy in vehicles, machinery and power plants. For more
information, see Green Star Products' web site at
http://www.GreenStarUSA.com, or call Public Relations at
1-800-741-7648 and 1-800-340-9784, or fax 619-789-4743, or email
info@GreenStarUSA.com. Information about trading prices and volume
can be obtained at several Internet sites, including
http://www.bloomberg.com and http://www.bigcharts.com under the
ticker symbol "GSPI".
Forward-looking statements in the release are made pursuant to
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that such
forward-looking statements involve risks and uncertainties,
including without limitation, continued acceptance of the company's
products, increased levels of competition for the company, new
products and technological changes, the company's dependence on
third-party suppliers, and other risks detailed from time to time
in the company's periodic filings with the Securities and Exchange
Commission.
CONTACT: Joseph LaStella President Green Star Products, Inc.
800-741-7648 800-340-9784 619-864-4010 619-789-4743 (fax) Email
Contact
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