Green Automotive Company Restructures Management; Refocuses On Newport Coachworks

RIVERSIDE, Calif., Nov. 10, 2014 /PRNewswire/ -- Green Automotive Company (GACR.OTC) announced that it has appointed Carter Read as its Interim President and Secretary, and Alan Bailey as its Chief Financial Officer.  The appointments of Mr. Read and Mr. Bailey follow the Company's winding up of its European subsidiaries and operations earlier this year and signal the Company's focus on the operations of Newport Coachworks, Inc.  With the winding up of the Company's overseas operations, Mr. Ian G. Hobday resigned as the Company's Chief Executive Officer, Chief Financial Officer and Secretary, effective October 8, 2014.  Mr. Hobday also resigned from his position on the Company's Board of Directors. 

Carter Read has been the President of Newport Coachworks, Inc. since its inception in 2012.  Mr. Read, Interim President of Green Automotive, said, "I am delighted the Green Automotive Board of Directors has elected to focus on Newport Coachworks and its strong growth potential.  I believe with the proper efforts, Newport Coachworks can grow its brand recognition and add to its bottom line.  There is work to be done to meet these goals and I look forward to meeting the upcoming challenges."

On November 3-5, Mr. Read, along with Midwest Transit Equipment, an independent dealer representing the Midwest states, attended the Chauffeur Driven Show & Conference in Atlantic City, NJ. At the show, Midwest sold two of Newport Coachworks' buses displayed on the show floor and took orders for additional buses making the show a successful event.  Additionally, management from Newport Coachworks met with several other independent dealers regarding possibly representing Newport Coachworks in the northeast section of the country.  Two prominent dealers stood out and Newport Coachworks is working out the details to add these dealers to its dealer network.

On October 7^th Newport Coachworks signed a distribution agreement with A-Z Bus Sales. A-Z will represent Newport Coachworks in California, Nevada, Arizona and Hawaii. Newport is excited with A-Z's commitment to partner with Newport Coachworks and help grow sales in these western states.   

In response to the Securities and Exchange Commission's recent entry of an Order that alleges that Green Automotive failed to properly and timely disclose certain stock and financing transactions, the Company has taken steps to improve its corporate filing responsibilities in this regard and intends to appropriately report such actions on a timely basis in future.

About Green Automotive Company visit:  www.thegreenautomotivecompany.com

Forward Looking Statements - This release includes forward-looking statements. For a copy of the Company's full statements regarding forward-looking statements please view the Safe Harbor Statement on our website.

SOURCE Green Automotive Company

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