GreenTech Automotive attends the 2011 Global Green Growth Forum

GTA Joins Global Leaders To Share Strategies For Accelerating Green Growth Through Public-Private Collaboration

McLean, Virginia, October 21, 2011 – GreenTech Automotive (GTA) Chief Executive Officer and co-founder Charles Wang was invited by Danish Prime Minister Helle Thorning-Schmidt to attend the recent first Global Green Growth Forum (3GF) in Copenhagen, Denmark. Held in coordination with the Clean Energy Ministerial and the World Economic Forum, the two-day event on October 10-11 brought together 200 carefully selected global leaders across business, finance and public institutions. The aim of 3GF is to allow international leaders to spur green growth by exploring, demonstrating and stimulating better public-private collaboration.

The Forum was structured around in-depth discussions around best practice initiatives, supportive policies and collaboration opportunities to accelerate green growth. Mr. Wang represented GTA in three key sessions. First, as a core participant on Parallel Strategy Session-EV Test Markets, he shared his views on initiatives that could enhance the leading electric vehicle (EV) test markets and transform them into full-scale markets. Second, as the panel speaker in the Sustainable Transport session, Mr. Wang offered insights on how the current fossil fuel based transportation system can be quickly transformed into a sustainable transportation system. Third, he participated in the Financing Green Growth session, which focused on how financiers and policymakers can mobilize private and public capital for green growth.

"GreenTech Automotive's close work with Denmark is a prime example of how private and public cooperation can lead to the development and implementation of green transportation solutions," Mr. Wang remarked. "Specifically, after extensive testing in Bornholm, Denmark, GTA's first product MyCar will begin mass production later this year and will provide an affordable green transportation solution to consumers."

The new distribution agreement between GTA and its distributor in Denmark, announced in September 2011, has allowed GTA to take a significant step toward selling the American-made MyCar across Europe while it continues to create new manufacturing jobs in the United States.

Joined by prominent leaders including Shai Agassi, Founder and CEO of Better Place, Zhongyi Deng, Vice President and CTO of Shenzhen BAK Battery Co., LTD. and executives from Renault and Hyundai Motors, Mr. Wang also urged for greater backing from financial institutions for battery leasing programs, a viable and attractive way to lower the upfront purchasing cost of EVs and ease uncertainty about battery performance. He called for cooperation across governments and the private sector to promote cross-industry application of residual life of the kinetic battery. Such cooperation, Wang noted, can not only lower the cost of EVs but also optimize the usage of batteries' second life.

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, (703) 666-9001, tracy.sefl@wmgta.com

3GF Press Release-10-21-11.pdf
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Green Forum

Photo: Charles Wang (right), GreenTech Automotive CEO, converses with Danish Prime Minister Helle Thorning-Schmidt at 3GF in Copenhagen, Denmark. Seated to the left of Mr. Wang is Mr. Ban Ki-Moon, Secretary General, United Nations.

GreenTech Automotive attends the 2011 Global Green Growth Forum

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