Virginia-Based GreenTech Automotive Announces Joint Venture to Produce And Sell Energy-Efficient Cars In China

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GreenTech Chairman Terry McAuliffe Says Joint American-Chinese Venture Will Mean 2,000 New American Jobs To Manufacture Core Components of Green Vehicles

Ordos, Inner Mongolia, China, August 6, 2011 - Terence R. McAuliffe, Chairman of GreenTech Automotive (GTA) based in McLean, Virginia, has announced a new joint venture for GreenTech to produce and sell green vehicles in China. The joint venture is called Ordos GreenTech Automotive Co., Ltd., and is a partnership between GTA and Shengyang ZhongRui Investment Co., Ltd., a Chinese investment holding company. Led by Chinese entrepreneur Mrs. Shao Jinglan, Shengyang Zhongrui Investment Holding Co., Ltd., has been investing in banking, commercial real estate, and Chinese airline industries. SCIVIC Engineer Corporation, the world's largest automotive civil engineering firm, will provide civil and production engineering services.

McAuliffe announced the agreement today in Ordos at the 500-acre site, where construction will begin immediately for the new manufacturing facility. He was joined at the groundbreaking ceremony by high-ranking business and government officials, in the fast-growing region that has become the energy epicenter of China. The new facility will produce a full line of vehicles powered by U.S.-made high-efficiency combustion engines, hybrid powertrains and pure electrical drivetrain. The product line will include subcompact, compact, midsize and sports vehicles, all to be designed specifically for and sold exclusively in China. Full production capacity will be 300,000 vehicles per year and the core components of these vehicles will be made at GTA factories in the United States.

 "Our new partnership is a tremendous step forward for the green energy industry in both China and the United States. We can achieve two important goals at once. We can provide China with clean technology and help reduce carbon emissions in the country," said McAuliffe. "And because our core components will be made in America, we will create 2,000 new American jobs when we reach full production capacity."

"Currently, the aggregated import duty and other taxes in China make imported electrical and hybrid vehicles out of reach for average Chinese consumers. GreenTech's goal is to make our products affordable," said McAuliffe. "This partnership provides us with an entry into the growing Chinese green transportation market and allows us to increase production of core components in the United States. Much like our recent agreement to sell our vehicles in Denmark, we are proud of what this new venture means for the future of green U.S. manufacturing jobs and green energy."

About GreenTech Automotive (GTA) - GreenTech Automotive (www.wmgta.com) is a U.S. automobile manufacturing company headquartered in McLean, Virginia committed to the advancement of clean automobile technology. GTA is developing vehicles that are energy-efficient, affordable, and built in the United States by American workers. Led by Terry McAuliffe, an international leader in politics, business, and green energy advocate, GTA was established to carry out his vision that "no green technology is truly green unless it is affordably green."

Contact: Tracy Sefl, (202) 285-8875, tracy.sefl@wmgta.com

Charles Wang (left), GreenTech Automotive CEO, and Terry McAuliffe, Chairman, at the ground breaking ceremony in Ordos, Inner
Mongolia, China. The inscription on the cornerstone reads: " "US Green Automobile Manufacturer GTA's Ordos Joint Venture Ground Breaking - August 6, 2011"

 

 

The Ordos product line will include subcompact, compact, midsize and sports vehicles, all to be designed specifically for and sold
exclusively in China. The core components of these vehicles will be made at GTA factories in the United States.

 

Construction officially started when Terry and the Party Secretary of Ordos put their hand on the crystal ball at 10:28AM.

 

 

 

 

 

 

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