GreenTech promises Americanmade electric cars this year

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GreenTech promises American-made cars this year

the heartstrings of what many want to hear, this Virginia-based GreenTech Automotive American production of green cars that would favorably with China.

In a of the usual, GreenTech’s chairman – and Democratic National Committee – Terry McAuliffe said the will begin manufacturing MyCar neighborhood electric (NEVs) in Mississippi.

“I am sick and of seeing our jobs go to China,” told MSNBC recently. “I am and tired of seeing big cargo coming in from China.”

The was designed for a Hong Kong GreenTech acquired in 2010.

The vehicles are said to begin this year, and McAuliffe has to make available the first for a mere $10,000 each subsidies.

Earlier plans to them from China are on although the company s CEO says an plant in the desert of Inner is still being constructed.

get to that shortly, but this news is the MyCar will be the of several hybrid and electric made in America, by Americans, plans to heavily export as well.

The MyCar was originally by Giorgetto Giugaro s Italdesign and by McAuliffe on a trip to London.

reports vary, but the car may be capable of 70 miles maximum range, a maximum speed of 50 mph, in the U.S. as an NEV it would be limited to 25 or 35

The first exports are intended to go to for European distribution later year where higher may be permitted.

In its press release, says the Danish company which distributes electric and related products and services, purchase a sizable percentage of GTA s production through 2014.

And of these announced American McAuliffe shared his vision.

agreement is a major step in the we have proudly formed Danish leaders, said We share a desire to create and affordable green transportation and this MyCar agreement, we are broad strides to begin our American-made MyCars throughout Not only does this reflect our principles of affordable energy, it also means new jobs in America.

Similarly, CEO Per Boesen expressed his enthusiasm.

s MyCar is proof that it is to create high-quality, sustainable We will be helping to reduce emissions and creating new jobs in and elsewhere across the globe, said. Earlier this Denmark released its ambitious, Energy Strategy 2050, calls for the creation of a fossil-free network, independent from coal, and gas by 2050.

A little bit of

To be fair, we gave you the positive up front, although as you will industry observers have strong words of doubt for venture s viability.

First whether NEVs are even a idea is in question. The Insurance of Highway Safety (IIHS) has warnings for consumers to stay from NEVs because don’t have to pass tests. When subjected to informally, they invariably catastrophic or fatal injuries to would-be occupants.

The Truth Cars has followed the GreenTech and reported some “stranger fiction ” dealings in the saga of the said to have been in 2006.

Originally GreenTech was an offshoot of Kinetic Motors, founded by Rong – who also goes by Yeung. He was the former CEO of Chinese Brilliance.

It was in 2009 that a pin was on the U.S. map in Alabama as a future of manufacturing for GreenTech cars. At time, Rong and GreenTech’s CEO and former founder of Brilliance, Yang developed plans fell apart before to fruition.

The New York Times that in 2001, due to his success at Forbes ranked Yang as third-richest tycoon, with an wealth of $840 million.

CEO and Chairman McAuliffe in Mongolia.

The recently interviewed Wang who plans were indeed proceeding at “warp speed” to the assembly plant in Ordos, Mongolia.

Wang told the it would be completed by the end of 2012 and capacity to produce 300,000 per year.

As for this week s plans, GreenTech has found it to “rely heavily” on funding by the “EB-5” Immigrant Investor

This federal program green cards and permanent to foreign nationals and their who contribute $500,000 or more to a business in rural areas and of high unemployment.

In a story the wrote last year Green Cards for Green , it was shown affluent Chinese escaping their homeland by their way into America’s

This week the Times that Wang said “has been utilizing the program as part of our funding

To do what the company intends to do take billions. The company Automotive News it is well but did not disclose details.

Audacity of Hope

Automotive has reported that McAuliffe’s for a bright American green are – to be charitable – perhaps a wee bit optimistic.

On thought, let’s forget charitable: Actually the term by Automotive News writer Child is that the plan is on arrival,” and he also wrote:

keeps the vision alive is audacity. With confidence and he spells out his job-creating optimism on national cable shows as “The Daily Rundown” and Ed Show,” also on MSNBC … auto visions are fine. But require staggering amounts of and manpower. And there’s no tangible that McAuliffe has either.

reported GreenTech of McLean, Va. a of Washington D.C. has around 50 and hopes by year’s end to have

In contrast, just to expand its research and development, GM has hired 2,000 engineers, let alone employees.

And while it makes for a sound bite to promise the 100,000 MyCars for $10,000 consider that International Solutions showed the U.S. for NEVs last year was than 26,000 units

did concede this when to an News inquiry it replied: electrics “are a small for sure, at least right We have a few ideas on how to create awareness and build that Our goal of 100,000 units is a sales figure over We look forward to achieving

So the plan as it stands is to get the ball by selling over one hundred NEV death traps, as the IIHS calls them, to a limited In the U.S. they will be from streets with limits over 45 mph, and the date for other green is nowhere in sight. Despite it has wads of cash ready to go, week GreenTech scaled plans to build hybrids and at its Mongolia plant in 2013.

“Our expanding product including hybrid and electric vehicle will come in due and we have not yet set a timetable for the next introduction” after this NEV, said a GreenTech “We fully understand the challenges in money, and technical expertise to a quality hybrid or electric

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What to believe?

In the mean if you want an exciting story hope to the flagging American sector and more, take the value of news GreenTech is as it says thousands of American will be created leading toward greater domestic reliance.

It has not convinced analysts or reporters, as Truth About editor Edward Niedermeyer plainly.

I’ve only blogging about the car industry for three and a half years, but seen this movie way too times before, he said. If missed out on the ZAP saga, to cite the infamous example of the NEV today, tomorrow scam, read this. this and this for a on how this game works. not pretty, and I hoped it was left in 2008, when it still a few people. Today there’s no for anyone to be taken in by such an played-out scam.

McAuliffe and his Bill Clinton discuss the

It would be really great if are proven wrong. But if GreenTech turn out to be over the top, as News says, it will be a to have built up hopes the means to get there amounted to more than a tired of the usual chutzpah.

That McAuliffe has been plausible to some should as no surprise however, as he is past at playing the right note his days in high-level politics.

has a law degree from Georgetown and was a fundraiser for Jimmy Carter’s re-election campaign, and an “exceptionally fundraiser for Bill Clinton s bids.

In 2000 Al Gore McAuliffe “the greatest in the history of the universe.”

On GreenTech s Web his biography says under his the Democratic National Committee set records by raising more $535 million.

However the that cited the Al Gore also noted of his dealings:

McAuliffe is particularly at the raising of soft money – that, by endorsing an overall or party rather than a candidate, are legally permitted to the limits normally placed on to a political campaign. Because are not bound by such restrictions, money contributions are often so – frequently in excess of $100,000 – donors naturally expect to some form of payback in for their generosity. McAuliffe’s money strategy was responsible for Clinton’s 1996 scandal the Lincoln Bedroom sleepovers and the House coffees, two tactics to solicit huge donations wealthy friends and patrons of the

McAuliffe reportedly also and chaired President Clinton’s legal defense fund the Monica Lewinsky scandal, and has investigated by federal officials for business deals.

In 2009, he ran for of Virginia, but was unsuccessful, and prior to had headed Hillary Rodham unsuccessful presidential campaign.

Even left-leaning political have called him a hypocrite for the way to create more American is to build a large assembly in China.

But McAuliffe says he has 25 businesses and they’ve all made

That he has talent, is connected, and how to network is not in question.

Last GreenTech s Alan Himelfarb, vice president for strategic told Automotive News he there were skeptics, but We are very realistic about the

GreenTech says it will off McAuliffe’s passion for green and desire to bring renewed to Americans, and – to be charitable again – note that stranger have happened, and it would be if such grand plans actually work out.

If come to pass we will be in to give credit where In the mean time, as others said already, we ll believe it we see it.

This entry was posted on September 9th, 2011 at am and is filed under General. You can any responses to this entry the RSS 2.0 feed. Both comments and are currently closed.

Brilliance Electric Cars
Brilliance Electric Cars
Brilliance Electric Cars
Brilliance Electric Cars


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