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Ecologic Transportation, Inc. Signs an Agreement between Ecologic Car Rentals, Inc. & Ray Motor Ltd. to Form the Joint Venture Ecologic Israel


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© Business Wire 2009
2009-11-11 13:47:01 -

Ecologic Transportation, Inc. : (“Ecologic Transportation” or the “Company”) (OTCBB: EGCT) today announced it formed a joint venture with Ray Motor Ltd, an Israeli company with principal place of business located at Kibbutz Magshimim, Israel, to identify and contract with potential business partners in Israel to operate electric car rental operations under the Ecologic Brand.

Ray Motors Ltd. has

over 200 years of combined automotive experience including R&D, engineering, prototyping, and mass production for special applications. Ray Motor’s principals are the founders of TOMCAR, joined by several electric vehicle specialists in developing cutting edge solutions for this industry.

“This joint venture aligns with Ecologic Transportation’s strategy to introduce customers to environmentally friendly vehicles - to get green cars into the hands of a growing demographic – those car rental customers who are unattached to a brand, but attached to an idea,” said William N. Plamondon III, President and CEO : of Ecologic Transportation.
“There is a high demand for electric vehicles in Israel, so this joint venture gives us a great opportunity to export the Ecologic brand.”

ABOUT ECOLOGIC TRANSPORTATION, INC.


Headquartered in Santa Monica, CA, Ecologic Transportation, Inc., is a holding company with wholly owned subsidiaries all dedicated to environmentally friendly transportation products and services. The company encompasses three separate but integrated operations that address the environment and transportation holistically: Ecologic Car Rentals, Ecologic Systems and Ecologic Products. This innovative company has an unbiased approach to green cars and clean fuels by providing a platform for all emerging environmental transportation technologies. For more information: www.ecologictransportation.com : .

For more news and information on Ecologic Transportation, please visit www.myshareholder.com/ecologic-transportation.html : where you can follow Ecologic on Facebook, Twitter, and You Tube.

FORWARD-LOOKING STATEMENTS

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in our reports filed with the SEC. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.



Media Contact:Ecologic Transportation, Inc.Erin DavisV.P.,

Marketing and Communication erind@ecologictranspo.com : mailto:erind@ecologictranspo.com orInvestor

Contact:Capital Group CommunicationsMark Bernhard415-332-7200 mark@capitalgc.com : mailto:mark@capitalgc.com


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