Eco-friendly vehicles distributor Green Automotive (GAC) has purchased 21.63% stake in American electric truck manufacturer Viridian Motor (VMC).
This move is a part of the company's strategy to become a leading player in electric vehicle niche markets.
VMC develops transportation technology using alternative fuels and propulsion systems. It manufactures fully electric, light duty trucks using its electric drive train and battery packs.
GAC CEO Ian Hobday said that there are number of synergies to explore especially with regards to supply chain management and commercial activities with their existing Californian bus manufacturing business Newport Coachworks, who plan to launch their first electric shuttle bus this February.
"This combination should be very beneficial for both businesses. Viridian would become our support partner for electric buses on the East Coast, where we currently do not have any presence," Hobday added.
VMC CEO Terry Langhorn said: "We look forward to working with them and providing a comprehensive support structure for the East Coast as they introduce their pure electric shuttle bus."
GAC, which has presence in electric truck market in the Europe through its Liberty Electric Cars business, noted that it decided that the American electric truck market was the next sector in which they should develop.
Image: Zero emission vehicle from Green Automotive. Photo: Courtesy of Green Automotive Company Inc.
