Even though the official news just came through, Amp was clearly expecting the feds to qualify its cars for this credit. The company set the price for the Jeep Grand Cherokee EV at $57,400 during the Detroit Auto Show, which is a kind of unusual number unless you subtract $7,500 and realize you come up with just under $50,000, an important number for marketing purposes. Interested? Fleet and retail customers can reserve an Amp'd SUV here.
AMP joins list of plug-in electric drive motor vehicle manufacturers, including Ford Motor Company, General Motors Corporation, Tesla, Toyota, and 13 EV manufacturers in all, qualifying purchasers for $7,500 tax credit when purchasing an AMP Electric Vehicle.
Cincinnati, OH – March 12, 2012 - AMP Electric Vehicles (OTCBB and OTCQB: AMPD), announced today they have been qualified by the IRS for the federal tax credit. http://www.irs.gov/businesses/article/0,,id=219867,00.html
The timing of AMP's qualifying for the Federal Plug-in Electric Drive Motor Vehicle Credit of $7,500, which applies to retail and fleet buyers, couldn't be better," said Jim Taylor, AMP CEO. "Given the recent increase in gas prices and the low operating cost of an EV, more buyers are turning their attention to EV alternatives."
Many states offer additional sales tax exemptions and zero emission tax credits of up to $5,000 that can also be applied to the purchase. AMP is taking reservations for their all-electric vehicles at http://ampelectricvehicles.com/reserve
"After the tax credit, an AMP EV buyer can drive an all-electric SUV for as little as $49,900, a very competitive price for an EV, " said Dana Hackney, owner of AMP of Cincinnati dealership. " When our buyers compare AMP's SUVs to other smaller EV offerings they will be very impressed."
AMP recently received numerous great reviews following the Detroit Auto Show press events, including Consumer Reports, citing that electric power isn't just for "little city cars:" http://news.consumerreports.org/cars/2012/01/2012-detroit-auto-show-we-take-a-spin-in-two-electric-suvs.html.
About AMP Holding Inc.
AMP (OTCBB and OTCQB: AMPD) has introduced a unique electrification technology that has generated an extreme amount of interest from around the world. AMP is strategically targeting their electrification at the OEM SUV and Commercial Medium Duty Vehicle markets. AMP customer sales will be from both the consumer and fleet markets. The Company was founded in 2007 by entrepreneurs who have created several hi-tech companies and is currently comprised of top automotive industry veterans and business executives. For more information visit www.ampelectricvehicles.com.
Certain statements contained in this press release may constitute "forward-looking statements". Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.