Green Automotive to acquire Liberty Electric Cars
30 June 2012
US-based Green Automotive Company has signed an agreement to acquire UK-based Liberty Electric Cars Limited (earlier post). Liberty Electric Cars is a electric vehicle design, engineering and manufacturing company.
Green Automotive will purchase all of the issued and outstanding stock of Liberty Electric Cars Ltd. and its subsidiary LEC 2, Limited, in exchange for 39,172,178 shares of Green Automotive Company common stock.
Liberty, through its E-Tech division, is involved in research programs for developing next-generation EV solutions, many in partnership with Tier 1 automotive manufacturers. These include:
The “Deliver” project in which Liberty is working with Volkswagen, Fiat and Michelin to develop a pure electric commercial vehicle.
The “Motore” project in which Liberty is partnered with Cranfield University, Rolls Royce Electric Machines and Protean aims to develop a rare-earth-free electric motor technology.
Liberty’s engineers have invented and IP-protected innovative electric vehicle (EV) drive train technologies, that can be employed in a wide variety of vehicle platforms (trucks, buses, 4x4, SUV, MPV and pickup trucks) as reveled in its flagship technology demonstrator, the Liberty E-Range—a battery-electric Range Rover.
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