Amp Electric Vehicles is getting ready for some fun in the sun. The Ohio-based EV conversion company announced today that it has signed a deal with U-Go Stations Cayman to distribute its all-electric SUVs in the Caribbean islands. Amp converts both the Jeep Grand Cherokee and the Mercedes-Benz ML vehicles to electric drive.
The memorandum of understanding that Amp signed with U-Go gives the distributor "exclusive retail and fleet distribution rights in the Cayman Islands, Jamaica, St John, St Thomas, St Kitt, Bermuda, the Bahamas and Barbados." There was no mention of how many vehicles this deal might entail, but U-Go is building out a charging infrastructure in the Caribbean. The first demo vehicle should be delivered this summer, which is also when U-Go will start taking orders. Amp also has a potential deal to deliver up to 1,000 electric vehicles to Iceland.
Amp CEO Jim Taylor said in a statement that the islands are the right place for his company's EVs.
The memorandum of understanding that Amp signed with U-Go gives the distributor "exclusive retail and fleet distribution rights in the Cayman Islands, Jamaica, St John, St Thomas, St Kitt, Bermuda, the Bahamas and Barbados." There was no mention of how many vehicles this deal might entail, but U-Go is building out a charging infrastructure in the Caribbean. The first demo vehicle should be delivered this summer, which is also when U-Go will start taking orders. Amp also has a potential deal to deliver up to 1,000 electric vehicles to Iceland.
Amp CEO Jim Taylor said in a statement that the islands are the right place for his company's EVs.
The combination of the near perfect weather conditions of the Caribbean Islands, the high cost of gasoline, the inherent short commutes of an island community and the desire to reduce dependence on foreign oil makes for an outstanding scenario for our EV's.
AMP Signs U-Go Stations Cayman as Distributor of Its Electric Vehicles in the Caribbean
-- AMP and U-Go Stations Cayman Enter into MOU to Introduce All-Electric SUV's to The Caribbean Islands
Cincinnati, OH – March 5, 2012 - AMP Electric Vehicles (OTCBB and OTCQB: AMPD), an electric vehicle company specializing in truck conversions, signed a memorandum of understanding (MOU) today with U-Go Stations Cayman LTD. to distribute all-electric SUVs to the Caribbean Islands. U-Go Stations Cayman will become AMP's second international distributor.
In early January of 2012 at North American Auto Show AMP announced its first U.S. dealership, AMP of Cincinnati.
"The combination of the near perfect weather conditions of the Caribbean Islands, the high cost of gasoline, the inherent short commutes of an island community and the desire to reduce dependence on foreign oil makes for an outstanding scenario for our EV's" said Jim Taylor, AMP CEO. "We are very excited about this business partnership."
The agreement gives U-Go Stations Cayman the exclusive retail and fleet distribution rights in the Cayman Islands, Jamaica, St John, St Thomas, St Kitt, Bermuda, the Bahamas and Barbados. U-Go is both actively promoting the sale of electric vehicles and currently developing convenient EV charging infrastructure in the Caribbean.
"The 100% electric AMP SUVs with a driving range of about 100 miles will add a new dimension to the emerging Caribbean EV market," said Bill Policastro, U-Go Stations CEO. "Currently EVs sold there are either subcompact or compact sized. The introduction of AMP's SUVs will give our dealers a distinct competitive advantage."
AMP plans to deliver its first Electric SUV to U-Go Stations Cayman for use in their EV auto show that is scheduled for the summer of 2012 in Grand Cayman. During the show U-Go Stations Cayman plans to begin taking customer orders for AMP's EVs.
About AMP Holding Inc.
AMP was founded in 2007 by entrepreneurs who have created several hi-tech companies. Currently, the AMP team is comprised of top automotive industry veterans and business executives. AMP's first all electric demonstration models were the Saturn Sky and the Chevrolet Equinox. Since its inception, AMP's unique electrification technology has proven to be an idea that has generated an extreme amount of interest, with inquiries coming from around the world. AMP's intent is to electrify a range of OEM SUVs as well as fleet passenger and delivery vehicles, and expects to announce new model additions in 2012. The Company expects its vehicle electrification technology will provide new solutions to the world's energy demands.
To learn more, visit the AMP website at www.ampelectricvehicles.com.
About U-Go Stations Cayman LTD.
U-Go Stations Cayman LTD. works with businesses on Grand Cayman in the development of an electric vehicle (EV) charging station infrastructure through partnerships whereby U-Go Cayman owns, operates and maintains public charging stations and shares revenue with the real estate owner where the stations are located. "Businesses can take advantage of U-Go's implementation of an alternative vehicle infrastructure, providing a necessary public service without cost to the host" said Bill Policastro, U-Go Stations CEO. U-Go Stations Cayman is committed to the development of green technology infrastructure with interests also in photovoltaic solar and solar canopy systems. U-Go Cayman principal, John Felder, has been providing automotive sales and service to the Caribbean for over seven years and is responsible for the introduction of the Caribbean's first electric vehicle. U-Go Cayman has recently announced plans for the first Caribbean solar panel charging station for electric vehicles, which is located in Georgetown, Grand Cayman
Forward-Looking Statements
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.
-- AMP and U-Go Stations Cayman Enter into MOU to Introduce All-Electric SUV's to The Caribbean Islands
Cincinnati, OH – March 5, 2012 - AMP Electric Vehicles (OTCBB and OTCQB: AMPD), an electric vehicle company specializing in truck conversions, signed a memorandum of understanding (MOU) today with U-Go Stations Cayman LTD. to distribute all-electric SUVs to the Caribbean Islands. U-Go Stations Cayman will become AMP's second international distributor.
In early January of 2012 at North American Auto Show AMP announced its first U.S. dealership, AMP of Cincinnati.
"The combination of the near perfect weather conditions of the Caribbean Islands, the high cost of gasoline, the inherent short commutes of an island community and the desire to reduce dependence on foreign oil makes for an outstanding scenario for our EV's" said Jim Taylor, AMP CEO. "We are very excited about this business partnership."
The agreement gives U-Go Stations Cayman the exclusive retail and fleet distribution rights in the Cayman Islands, Jamaica, St John, St Thomas, St Kitt, Bermuda, the Bahamas and Barbados. U-Go is both actively promoting the sale of electric vehicles and currently developing convenient EV charging infrastructure in the Caribbean.
"The 100% electric AMP SUVs with a driving range of about 100 miles will add a new dimension to the emerging Caribbean EV market," said Bill Policastro, U-Go Stations CEO. "Currently EVs sold there are either subcompact or compact sized. The introduction of AMP's SUVs will give our dealers a distinct competitive advantage."
AMP plans to deliver its first Electric SUV to U-Go Stations Cayman for use in their EV auto show that is scheduled for the summer of 2012 in Grand Cayman. During the show U-Go Stations Cayman plans to begin taking customer orders for AMP's EVs.
About AMP Holding Inc.
AMP was founded in 2007 by entrepreneurs who have created several hi-tech companies. Currently, the AMP team is comprised of top automotive industry veterans and business executives. AMP's first all electric demonstration models were the Saturn Sky and the Chevrolet Equinox. Since its inception, AMP's unique electrification technology has proven to be an idea that has generated an extreme amount of interest, with inquiries coming from around the world. AMP's intent is to electrify a range of OEM SUVs as well as fleet passenger and delivery vehicles, and expects to announce new model additions in 2012. The Company expects its vehicle electrification technology will provide new solutions to the world's energy demands.
To learn more, visit the AMP website at www.ampelectricvehicles.com.
About U-Go Stations Cayman LTD.
U-Go Stations Cayman LTD. works with businesses on Grand Cayman in the development of an electric vehicle (EV) charging station infrastructure through partnerships whereby U-Go Cayman owns, operates and maintains public charging stations and shares revenue with the real estate owner where the stations are located. "Businesses can take advantage of U-Go's implementation of an alternative vehicle infrastructure, providing a necessary public service without cost to the host" said Bill Policastro, U-Go Stations CEO. U-Go Stations Cayman is committed to the development of green technology infrastructure with interests also in photovoltaic solar and solar canopy systems. U-Go Cayman principal, John Felder, has been providing automotive sales and service to the Caribbean for over seven years and is responsible for the introduction of the Caribbean's first electric vehicle. U-Go Cayman has recently announced plans for the first Caribbean solar panel charging station for electric vehicles, which is located in Georgetown, Grand Cayman
Forward-Looking Statements
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.
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