Terry McAuliffe Announces Commitment to Affordable Green Transportation and Creating New Green Jobs by Selling First 100,000 U.S.-Built MyCars for $10,000 Apiece

2010 Clinton Global Initiative Annual Meeting

NEW YORK--()--Terence R. McAuliffe, Chairman of GreenTech Automotive (GTA), announced at the 2010 Annual Meeting of the Clinton Global Initiative (CGI) that GreenTech Automotive is committing to build and deploy affordable green hybrid and electric vehicles in the United States.

In his commitment, announced during the CGI Environment and Energy Keynote, McAuliffe emphasized GTA’s philosophy to make green technology affordable to consumers. With the manufacturing of the award-winning MyCar, a Neighborhood Electric Vehicle (NEV), slated to begin in the United States in mid-2011, GTA will sell the first MyCars to consumers at a discounted rate.

“Lack of affordability has been one of the primary barriers to mass market adoption of electric vehicles,” McAuliffe said. “GreenTech is committed to bringing this technology to wide audiences of Americans. We will make the first 100,000 U.S.-built MyCars available to consumers for $10,000 apiece. Green technology cannot be truly green unless it is affordable. We believe that our MyCar pricing will offer tremendous potential to introduce consumers to electric vehicles.”

Furthering McAuliffe’s mantra about creating green jobs, GreenTech has committed to hiring 3-5,000 workers to manufacture the cars. All of the production facilities will be based in economically depressed areas in an effort to spur economic recovery and provide new, green manufacturing jobs. At full production, GreenTech will produce five vehicle models, all available at affordable price points. Sales of MyCar are underway in Europe, and the company will begin selling its other four models around 2013-2014.

GreenTech was also in the spotlight during CGI’s first-ever “Green Vehicle Showcase,” allowing the public to see the award-winning MyCar and GTA’s Hybrid Sports vehicle. Former President Bill Clinton toured the showcase and praised GreenTech for purchasing the China-based MyCar manufacturer and moving its production to America.

About GreenTech Automotive (GTA) – GreenTech Automotive is the new US automobile company 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 McAuliffe, an international leader in politics, business, and promoting green energy, GTA was established to carry out his vision that “no green technology is truly green unless it is affordably green.” For more information, visit www.wmgta.com.

About the Clinton Global Initiative (CGI) – Established in 2005 by President Bill Clinton, the Clinton Global Initiative (CGI) convenes global leaders to devise and implement innovative solutions to some of the world’s most pressing challenges. Since 2005, CGI Annual Meetings have brought together more than 125 current and former heads of state, 15 Nobel Peace Prize laureates, hundreds of leading CEOs, heads of foundations, major philanthropists, directors of the most effective nongovernmental organizations, and prominent members of the media. These CGI members have made more than 1,700 commitments valued at $57 billion, which have already improved the lives of 220 million people in more than 170 countries. The 2010 CGI Annual Meeting will take place from September 20-23, 2010, in New York City. For more information, visit www.clintonglobalinitiative.org.

Contacts

GreenTech Automotive
Tracy Sefl, 202-285-8875
tracy.sefl@wmgta.com

Contacts

GreenTech Automotive
Tracy Sefl, 202-285-8875
tracy.sefl@wmgta.com