McAuliffe announces purchase of Hong Kong electric car company
The Washington Post
May 17, 2010
By Rosalind Helderman
Former Democratic gubernatorial candidate and national party chairman Terry McAuliffe is continuing his ambitious effort to prove he can create jobs in Virginia, with or without the governor's mansion. One of two major McAuliffe investment projects announced major progress late Sunday, as his green car company Greentech Automotive announced it has purchased EuAuto Technology Ltd., a Hong Kong-based company that makes and distributes electric cars.
With the purchase complete, McAuliffe could potentially bring EuAuto's design to the U.S. for manufacture. In a release that includes a congratulatory quote from no less a personage than U.S. Secretary of Commerce Gary Locke (it's a "win-win" transaction, Locke says), Greentech says the purchase will mean 300 jobs transferred to the U.S. and eventually 4,000 jobs in Mississippi, Tennessee and Virginia.
Our colleague Amy Gardner first reported on McAuliffe's efforts to lure an electric car factory to Virginia way back in November.
McAuliffe hasn't yet broken ground on the plant -- for one thing, it's not clear how many of those 4,000 jobs potential jobs will come to Virginia, as opposed to Mississippi, where the company has deeper ties.
Read more:
http://www.terrymcauliffe.com/news-story.asp?id=44
