For those who missed the news on ECAR, here it is... please read it all; I think you will see something here:
"TORRANCE, Calif., Sep 23, 1999 (BUSINESS WIRE) -- U.S. Electricar Inc.
(OTC BB:ECAR) confirmed its readiness to participate in the anticipated
growth in the EV industry in the year 2000 and beyond.
At its recent shareholder meeting in Torrance, Carl Perry, president
and CEO, announced that the company is currently in its strongest
financial position in several years, has elected a new chairman with
world wide business acumen, and has developed a full spectrum of
electric and hybrid drive systems and components.
The company has recently completed a $3 million equity funding from two
new investors. One of the new investors, Jagen Pty. Ltd., is owned by
the Liberman family, one of Australia's leading families.
Perry also announced that in a related move, the company has elected
Anthony Rawlinson as chairman of its board. Rawlinson, a global fund
manager, is managing director of the Global Value Investment Portfolio
Management Pte. Ltd., a Singapore-based International Fund Management
Company which handles discretionary equity portfolios for institutions,
pensions funds and wealthy private clients, globally.
Rawlinson stated, "The reason Jagen and I have invested in U.S.
Electricar is that we believe the company is developing world class
technology and their products are leading edge. With respect to the EV
market, U.S. Electricar provides 'the total solution' in system
engineering and interface.
"The management and engineering team have restructured the company and
it is our belief that they are leading it to a position of dominance in
the EV and Hybrid Vehicle Industry."
"Our partnership with Hyundai Motor Company, Hyundai Heavy Industries
and Hyundai Electronics is a key element in building the future for
U.S. Electricar. The company is currently under contract to develop a
full spectrum of electric and hybrid drive systems for Hyundai Motor
Company.
"Furthermore, Hyundai has licensed the manufacturing rights for U.S.
Electricar's drive systems for Hyundai's production EVs in Korea," said
Perry.
Perry also announced at the shareholder meeting that the company shall
enhance ongoing communications with its shareholders as the activities
of the company warrant."
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