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Wednesday, February 02, 2011

Green Car Stocks Update; EVCARCO Set to Implement Franchise Strategy, Ener1 Showcased for Innovation and Job Growth

Point Roberts WA-  February 2, 2011 -   Investorideas.com a leader in cleantech investor research reports on recent news in the green car stocks sector.  

Recent Green Car News:

DALLAS, TX-- - 12/29/10 - EVCARCO Inc. (OTC.BB:EVCA) is pleased to announce that the Company has signed a three year executive agreement with Mr. Mack Sanders, who was recently appointed CEO by EVCARCO's board of directors. Mr. Sanders will be mainly responsible for the Company's roll out of its retail franchise model throughout the United States for its environmentally friendly vehicle product line as well as overseeing the day to day operations of the Company.

Mr. Sanders comes to EVCARCO with a strong background in the retail and wholesale automotive industry working in retail locations for Lincoln Mercury, Oldsmobile, and Mercedes. Mr. Sanders started his professional career in 1982 working as a retail sales professional for Pioneer Lincoln Mercury in Lubbock, Texas for their pre-owned vehicle division. Mr. Sanders played a key role in the 1980s in helping develop and maintain the pre-owned vehicle retail locations for Giles Volvo in Houston, Texas. After moving back to Dallas in 1990, Mr. Sanders entered the dealer to dealer automotive wholesale business permanently, working for over 15 years with David Jurecki where to this day, Mr. Sanders has cultivated long standing accounts with automotive franchise owners throughout the country.

"I am excited to join EVCARCO and bring my knowledge and expertise in the retail and wholesale operations, inventory management and new car franchise business, which will enable EVCARCO to build its own franchise brand for environmentally friendly dealerships," stated Mack Sanders, CEO of EVCARCO.

"Mack Sanders brings a strong history of automotive expertise to our management team, which will enable us to quickly achieve key milestones in 2011," stated Nikolay Frolov, Chief Financial Officer and Director of EVCARCO.

About EVCARCO

EVCARCO (www.evcarco.com) is an automotive retail group dedicated to deploying a franchised coast-to-coast network of environmentally friendly dealerships and vehicles.

Ener1 (Nasdaq:HEV ) Showcased for Innovation and Job Growth

Vice President Joe Biden Visits Company's Battery Pack Assembly Plant
Announces Large-Scale Government Program to Spur Electric Vehicle Deployment


GREENFIELD, Ind., Jan. 26, 2011  -- Ener1, Inc. (Nasdaq:HEV ) provided a backdrop today for remarks by Vice President Joe Biden on the administration's continued commitment to asserting U.S. leadership in the advanced vehicle industry, a centerpiece of White House economic and environmental policy.

"As the president said last night, by 2015 we will have one million electric vehicles on the road," Biden said, referring to President Barack Obama's State of the Union address last night.  "Once America has set a goal as a nation, we have never, never not achieved it," the vice president told Ener1's 350 Indiana employees and invited guests during a presentation at the company's Mt. Comfort plant. 

The vice president visited Ener1, a leading manufacturer of advanced lithium-ion batteries, to witness the company's progress since receiving a $118.5 million federal stimulus grant in 2009.  Biden commended Ener1 for its success in leveraging federal funds to attract private capital, in creating hundreds of new jobs for automotive industry workers and contributing to U.S. innovation in electric-drive technology.

The vice president also seized the occasion to announce a new federal program to accelerate the wide-scale adoption of electric vehicles.  Under the proposed initiative included in the president's upcoming budget, 30 deployment communities, cities and towns across America, would be selected on a competitive basis for federal grants to support financial incentives for car purchases and charging infrastructure development, among other measures.  The president is also asking for an almost 90-percent funding increase to nearly $590 million for advanced vehicle technologies.

Biden was introduced by Ener1 battery assembly line worker Wendy Howard, supported in the audience by her three sons and father.  Before joining Ener1, Howard was downsized out of a job assembling pumps for power steering systems at a failing automotive plant.  "Now I make these hi-tech batteries for electric cars that don't disturb the environment and don't drink up oil that we don't have."

Ener1, a principal investor in the dedicated electric vehicle manufacturer THINK™, had several cars on display at the event and demonstrated a two-seat urban commuter model for the vice president.  The THINK City vehicle, which went on sale in the U.S. in December, is manufactured in the city of Elkhart, Ind.  President Obama selected Elkhart in 2009 to announce $2.4 billion in electric-drive grants, the single-largest investment in advanced battery manufacturing in American history. 

"The honor of being paid a visit by the vice president of the United States at our plant, and of being the site of an announcement of this magnitude for the nascent electric drive industry, is truly a reward for hard work," commented Ener1 Chairman and CEO Charles Gassenheimer.  "The employees of our company certainly all deserve it."

About Ener1, Inc. (Nasdaq:HEV )

Ener1, Inc. is a publicly traded (Nasdaq:HEV ) energy technology company that develops compact, lithium-ion-powered battery solutions for the transportation, utility grid storage and consumer markets.  Headquartered in New York City, the company has more than 700 employees with manufacturing locations in the United States and Korea.  Ener1 also develops commercial fuel cell products, nanotechnology-based materials and manufacturing processes.  In collaboration with strategic partner and electric vehicle manufacturer THINK, Ener1 also manufactures electric vehicle drive train products.

Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the safe harbors created thereby. The Company is a development stage company who continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.

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