EvCarCo, Inc. Secures Electric/Hybrid Vehicle Technology Rights
October 22 2013 - 9:00AM
Marketwired
EvCarCo, Inc. Secures Electric/Hybrid Vehicle Technology Rights
Management Is Negotiating Return of Equity From American
Rodsmith
FT. WORTH, TX--(Marketwired - Oct 22, 2013) - EvCarCo, Inc.
(PINKSHEETS: EVCA) announced today that the Company has secured a
license for electric/hybrid vehicle technology. The technology
allows for the production of lightweight fully wheel chair
accessible electric and hybrid buses and has the capability to be
utilized for niche utility vehicles such as garbage trucks and city
utility vehicles.
Automakers sold 54,855 hybrids in August 2013, according to
Autodata Corp., a sales tracking firm. This is an industry record
and represents a 32% increase from the same period in 2012. Sales
of rechargeable cars, which include plug-in hybrids, also set a new
record in August 2013 with sales of 11,392 units. This represents a
147% gain from the same period in 2012.
Researchers at Frost and Sullivan recently released a Strategic
Analysis of Global Hybrid and Electric Transit Bus Market that
highlights the dramatic expected growth of this industry. Their
findings point to a market penetration of 9.8 percent for hybrid
transit buses and 5.4 percent for pure electric buses by 2020.
Together, by 2020 hybrid and electric bus unit shipments will reach
close to 42,000 units and worldwide sales will be growing at a
compound annual growth rate of 20.6%.
Walter Speck, Chairman of EVCA, said, "Securing this technology
is a very good fit with the EvCarCo EV business plan. I believe
this will provide long term shareholder value and opportunity for
EVCA and will continue to support this direction."
EvCarCo also announced that management is negotiating the return
of the Company's shares as it relates to the American Rodsmiths
transaction. The acquisition of ARS is not consistent with new
management plans to focus on the environmental technology sectors
and will no longer be pursued.
EVCARCO, Inc. is a Future DrivenĀ® Automotive Retail Group
focused on deploying a coast-to-coast network of eco-friendly
dealerships and vehicles. The Company sells or leases new &
pre-owned all electric, alternative fuel and hybrid vehicles from
most auto makers. For additional information regarding EVCARCO
visit: www.evcarco.com.
This press release contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Act of 1934. These forward-looking
statements are based largely on the expectations or forecasts of
future events, can be affected by inaccurate assumptions, and are
subject to various business risks and known and unknown
uncertainties, a number of which are beyond the control of
management. Therefore, actual results could differ materially from
the forward-looking statements contained in this press release.
Additional information respecting the factors that could materially
affect the Company and its operations are contained in its annual
report on Form 10K and Form 10-Q as filed with the Securities and
Exchange Commission. The Company undertakes no obligation to
publicly update or revise any forward-looking statement.
Investor Relations Contact: Jack Eversull The Eversull Group,
Inc. 972-571-1624 214-469-2361 fax Email Contact