Green Automotive Company has signed a 10-year extension to its Exclusive Sole Agency Agreement with Zotye, a China-based company engaged in the R&D and manufacture of auto complete vehicle, for the new Zotye electric SUV.
The agreement includes a joint venture target in 2012 wherein Zotye will work directly with Green Auto to open a plant in the US for final assembly of the electric SUV priced under $35,000, realizing Green Auto’s plan for green vehicles becoming the norm in the US.
Green Auto CEO Dan Elliott said that the Green Auto has proven its ability to capture market share in the US by landing this huge 10-year extension that will make company sole agent for Zotye;s electric SUV in the States for the next decade.
"This partnership is significant to Green Auto and Zotye; they are as excited about this as we are. More importantly, it will have a broad effect on job creation both here and in China as the first high quality Chinese vehicles enter the premier US market," Elliott said.