EXPANDS MARKETING AND DISTRIBUTION AGREEMENT
WITH GREENTECH AUTOMOTIVE, INC.
CORONA, CA – (Marketwired – June 15, 2015) – Saleen Automotive Inc. (OTCQB: SLNN)
Following up the successful debut of the Saleen model lineup at the Shanghai Auto Show, Saleen Automotive and GreenTech Automotive, Inc. (GTA) have expanded their existing marketing and distribution agreement through the signing of a new Intellectual Property License Agreement. This agreement includes expanded distribution as well as an exclusive Saleen brand and technology licensing agreement for the Asian market.
Since the initial marketing and distribution agreement, executed March 2014, GTA has fully campaigned the lineup of Saleen vehicles at the Beijing, Chengdu, Guangzhou, and Shanghai Autoshows to much fanfare and local market brand acceptance.
“Just getting a little attention in any market can sometimes take decades of persistence,” said Steve Saleen, CEO of Saleen Automotive. “GTA and their team have managed to quickly bring Saleen into the forefront of the performance market in China, and have proven that they are dedicated to the continuing expansion of the Saleen brand and product distribution in the rest of Asia.”
A new entity, Saleen Motors International (SMI), which is a wholly owned subsidiary of GTA and not affiliated with Saleen, will be used by GTA to distribute Saleen branded products.
This agreement also coincides with the release of the new 2015 Mustang, which is available globally for the first time in its 50-year history. With China’s automotive market being the largest in the world with 19.71 million new cars sold last year and with global automotive sales slated to reach 117 million new cars annually by 2020, according to JD Power, this marketing, distribution, and licensing agreement couldn’t have come at a better time.
Saleen Automotive, Inc.
Saleen is an American specialty manufacturer of high performance vehicles, technical performance parts, lifestyle accessories and apparel. Founder Steve Saleen has continually set the bar for automotive design and performance engineering in both street and racing applications. Saleen plans to utilize its existing strategic partnerships and dealer network to refine its design and engineering prowess, continue development of emerging automotive technologies, and expand its presence nationwide with a combination of automotive retail services, aftermarket parts and new vehicle sales to build significant long-term value. Learn more at www.saleenautomotive.com.
About GreenTech Automotive
GreenTech Automotive (GTA) is a U.S.-based automotive manufacturer dedicated to developing and producing environmentally friendly, energy-efficient vehicles. GTA’s core values encompass green technology, affordability and U.S. job creation. GTA operates a pilot manufacturing facility in Horn Lake, Mississippi, and is constructing a new manufacturing facility in Tunica, Mississippi. For more information, visit www.wmgta.com.