Green Automotive Company (GAC), a Newport Beach-based public company that converts, imports, and distributes eco-friendly vehicles worldwide, has completed the acquisition of Liberty Electric Cars Ltd., a U.K.-based green automotive group, following an agreement signed between the two companies earlier in the summer.
The combined businesses will have operations in North America, Europe and Australasia while continuing to expand through targeted acquisitions and business growth.
The closed acquisition is aimed at helping accelerate GAC’s growth with the aid of Liberty management team’s state-of-the-art EV technology that would have taken GAC more than a year to develop, according to Green Automotive’s president, Fred Luke.
“What they’ve achieved in Europe has been quite remarkable and we expect their combination of technical excellence and industry knowledge to help give us an edge in this fast growing business. In particular, access to their expertise in conversion programs will help to accelerate our plans to have pure electric buses, shuttles and limos on the road in the very near future,” said Luke.
GAC plans to bring all-electric and eco-friendly vehicles to the United States market by converting piston-engine vehicles and importing existing EVs. The company is presently assessing a number of all-electric and alternative fuel vehicles, including an all-electric intra-city and municipal mass transit bus and school bus, for possible introduction to the U.S. market.
“This is an exciting opportunity for us to bring our class-leading technology to the biggest market place in the world, and we’re keen to help Fred and his team make this happen,” said Liberty ‘s managing director, Ian Hobday. “We’ve got some incredible products in the pipeline which will really appeal stateside and we can’t wait to see them on American roads. I’m very proud of the management team we’ve built at Liberty and what they’ve been able to achieve. We look forward to working with the GAC people to make our combined business really fly.”
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ORANGE COUNTY FINANCIAL REPORTS