Subject: Green Automotive (GACR) ☼ Electric Vehicles Industry Update
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Electric Vehicles Industry Update
Cutting Edge State of the Art Green Technologies is the driving force behind
Green Automotive Company (Ticker: GACR)
Lightweight Electric Commercial Vehicles : The Strongest Potential For EV Adoption
Green
Automotive
Company
Is a state-of-the-art niche vehicle design, engineering, manufacturing, and sales company, driving innovation in the use of cutting edge zero and low emission technologies.
We also provide a comprehensive after sales program maximizing the life time value of clean transport solutions.
Green Automotive Company possesses a unique portfolio of synergistic and innovative businesses that are active in 3 main market segments: Advanced vehicle technology development, engineering & design with a focus on zero and low emission solutions; Manufacturing and customization of vehicles for niche markets with the potential to be converted into low emission or electric vehicles and Distribution of sustainable transport solutions including After sales support programs for electric vehicles offering parts, servicing and repair.
Electric Vehicles Industry Update: Plug Power Inc, Tesla Motors Inc, Ballard Power Systems Inc, Green Automotive Company
May 23, 2014 (ACCESSWIRE via COMTEX) — NEW YORK / ACCESSWIRE
Market Buzz Report, which provides up to date coverage, commentary and alerts on OTC and NASDAQ Stocks, issues critical stocks analysis for Plug Power Inc, Tesla Motors Inc, Ballard Power Systems Inc, Green Automotive Company.
Plug Power Inc. (NASDAQ:PLUG)’s shares dropped 2.93% to 4.30. The company on May 14 reported its 2014 first quarter results. Total revenue for the first quarter of 2014 was 5.6 million, comprised of 3.2 million for product revenue, 2.1 million for service revenue and 0.3 million for research and development (R&D) contract revenue. This compares to total revenue of 6.4 million in the first quarter of 2013, which was comprised of 4.7 million for product revenue, 1.3 million for service revenue and $0.4 million for R&D contract revenue. Net loss for the first quarter of 2014 was 75.9 million, or 0.57 per share on a basic and diluted basis.
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Ballard Power Systems Inc. (USA)(NASDAQ:BLDP)’s shares dropped 0.30% to 3.28. The company announced that Tony Guglielmin, Chief Financial Officer will present and participate in panel sessions on Wednesday, May 28 at the FBR Energy Technology Summit at 12:30pm ET at the Grand Hyatt, New York.
Is GACR undervalued compared to BLDP?
Additionally, BLDP on May 13 announced that it has signed an agreement with CALSTART, a member-supported organization dedicated to clean transportation alternatives, to deploy a fuel cell hybrid bus in 2015 at the University of California campus in Irvine, together with partners BAE Systems, ElDorado National and the University of California, Irvine. Ballard will supply the Company’s sixth generation FCvelocity®-HD6 power module, along with Engineering Services support. The 150 kilowatt power module features a control unit which interfaces with a system controller, making it a “plug-and-play” product for any fuel cell or hybrid fuel cell bus platform.
Green Automotive Company (GACR) shares gained 12.40% to 0.03. The company on May 21 announced financial results for its fiscal 2014 first quarter, ended March 31, 2014. The company posted strong quarterly revenue of 1.235m, up from 218K reported for Q1 2013. This major increase is largely attributable to strong growth in sales at our Newport Coachworks business.
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In Europe, Green Automotive’s subsidiary GoinGreen also increased sales of new electric vehicles following the introduction of the Mia in December 2013.
Revenues from our electric vehicle engineering business, Liberty Electric Cars, were steady thanks to our continued involvement in major EU sponsored electric vehicle development projects.
Tesla Motors Inc (NASDAQ:TSLA)’s shares gained 2.72% to 204.88. The company on May 21 said it will launch the right hand version of Model S Performance Plus in Britain next month, according to media reports. This is expected to boost demand for the car in the country where electric cars are not popular. Only 1,547 electric cars were sold in Britain in the first quarter of 2014.
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Additionally, the company on May 7 reported a first-quarter loss and said sales of its Model X sport utility vehicle will be delayed until next year. Revenue rose to 620.5 million in the latest quarter compared to 561.8 million a year earlier. The company said it lost 49.8 million in the first quarter compared to a profit of 11.2 million in the same period a year earlier. Last year’s profit was helped by heavy sales of special California zero-emission-vehicle environmental credits to other automakers.
Liberty Electric Cars Ltd (www.liberty-ecars.com) designs and develops EV technologies for use in its own converted vehicles and for sale to OEM’s for incorporation into their production. In addition, it provides a full aftermarket program for electric vehicle users to ensure the longevity of their vehicles, and has partnership arrangements in other European countries. The Liberty team can count on over 200 man years of experience in the automotive industry and specifically 95 plus man years in the EV sector covering some 12,000,000 miles.
Newport Coachworks Inc (www.newportcoachworks.com). specializes in building high quality shuttle buses, running on a variety of energy sources from petrol and diesel though to CNG. The company is run by Carter Read, an industry leader in the bus and limo manufacturing business in North America where he has been responsible for building over 10000 buses and limousines in his career.
GoinGreen Ltd (www.goingreen.co.uk) was founded in 2002 and in the early days, set itself the mission to minimize the effects of climate change by encouraging carbon-neutral motoring. The company pioneered electric vehicles in the UK with the G-Wiz where it has sold 1400 vehicles. In 2012 GoinGreen embarked on a programme to become the first “1 stop shop” for sales of all sustainable transport solutions – from electric bikes and scooters to electric motor bikes; from electric city cars to electric vans and trucks, all complimented by GoinGreen’s legendary aftersales support and service.
Blackhawk Manufacturing Inc (Blackhawk Manufacturing) is one of the foremost manufacturers of specialist composite materials with facilities in Bloomington, CA and Tijuana, Mexico. Blackhawk has pioneered innovative manufacturing techniques in open mold (fibreglass) Thermoforming, injected urethane and resin infusion techniques (RI). Their RI technology allows the creation of panels of a higher and more consistent standard, that are lighter, use 60% less resin, with virtually zero emissions when compared with more traditional techniques. The company has been supplying Green Automotive’s shuttle bus manufacturing business, Newport Coachworks, since it started operations in 2013. The vertical integration of the Blackhawk business into Green Automotive helps secure the company’s supply chain, offers new growth opportunities, brings skilled management to the team and provides Green Automotive with room to expand as the business continues to grow.
Green Automotive Company (Ticker: GACR)
www.thegreenautomotivecompany.com
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