Green Automotive has now integrated Liberty Electric Cars in its operations.
Original discussions were to lead to Liberty technology being used to convert conventional internal combustion engine driven vehicles into zero emission electric vehicles.
Green Automotive Company opted to get closer and announced yesterday it has closed the acquisition of Liberty Electric Cars Ltd. following its announcement on June 29 of the signing of a definitive agreement to acquire the Liberty business.
The combined businesses will now have operations in North America, Europe and Australasia and will continue to expand through a combination of organic growth and targeted acquisitions.
Commenting on the acquisition, Fred Luke, President of Green Automotive, said: “We’re delighted to have closed this acquisition, which I believe will accelerate our growth as the Liberty management team has state-of-the-art EV technology that would have take us another year or longer to develop. 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.”
Liberty Electric Cars is a vehicle design, engineering and manufacturing company, driving innovation in the use of leading edge zero and low emission technologies to satisfy growing demand for environmentally friendly transport solutions around the world. Liberty also provides a unique after sales program for electric vehicles across Europe, maximizing the life-time value of clean transport solutions.
Green Automotive purchased 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 a number of advanced research programs for developing next generation EV solutions, many in partnership with Tier 1 automotive manufacturers. These include the prestigious “Deliver” project where Liberty is working together with Volkswagen, Fiat and Michelin to develop a pure electric commercial vehicle. In addition 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. Moreover Liberty’s engineers have invented, IP-protected, innovative electric vehicle (EV) drive train technologies, that can be employed in a wide variety of vehicle platforms (trucks, buses, 4×4, SUV, MPV and pickup trucks) as reveled in its flagship technology demonstrator, the Liberty E-Range – the worlds first, pure electric, luxury 4×4.