GreenTech Automotive

WM GreenTech Automotive (WMGTA), parent company of GreenTech Automotive (GTA), is a US-based automobile manufacturer. The WMGTA brand is divided into two distinct divisions. The WM division distributes luxury and sports cars with internal combustion engines. The GTA division is planning to make electric vehicles.

Overview

In 2014, WMGTA acquired and merged VL Automotive into GTA, entered into a strategic partnership with Saleen Automotive, and acquired Advanced Composite Technology Inc. (ACT), a materials product development and manufacturing company.

WMGTA merged GTA with Detroit-based car manufacturer, VL Automotive in May 2014 to develop, engineer, manufacture, market, and distribute luxury sports sedans, branded as WM Destino. VL Automotive was founded by Robert A. Lutz, former Chairman of General Motors, and Gilbert Villarreal, automotive engineer and industrialist. Gilbert Villarreal will join WMGTA’s Executive team as the Co-President and Chief Operating Officer of WMGTA.

Under the WM Saleen brand, WMGTA distributes sports cars throughout Asia.

WM GreenTech Automotive started with the GTA division. It markets the MyCar and G2 electric vehicles. GTA will begin producing this vehicle at its U.S., manufacturing plant in Mississippi in late 2014.

In addition, WMGTA has a strategic partnership with JAC Motors, a Chinese automotive manufacturer. This partnership includes the development of a four-passenger, all-electric sedan, called the G2. The sedan will combine JAC’s Rejoice vehicle platform with WMGTA’s electric powertrain and battery management system.

History

EU Auto MyCar was founded in China in 2008. In 2009, Terry McAuliffe, now Governor of Virginia, and Charles Wang, Esq. founded GreenTech Automotive (GTA), a holding company which they then used to purchase EU Auto MyCar. As of December 2012, McAuliffe resigned from the company to pursue his bid for Governor. GreenTech Automotive Corp (GTA), is a wholly owned subsidiary of WM GreenTech Automotive Corp. (WMGTA), and the corporate headquarters are located in McLean, VA.

The company’s temporary manufacturing plant is located in Horn Lake, MS and an ~ 400,000 square-foot (37,000m2) production facility is under construction in Tunica, MS. This is where the GTA MyCar electric vehicles will be produced.

GTA’s management team has significant experience raising capital on Wall Street. They work with investors, corporate partners, utilities, and government regulators to advance green technology.

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See also