MIAMI BEACH, FL -- 02/10/10 --
Car Charging Group, Inc. (OTCBB: CCGI), a
company dedicated to a clean and sustainable environment through the
development of an Electric Vehicle (EV) charging infrastructure that will
be compatible with all electric vehicles, today announced its intention to
expand into the International market via the formation of Car Charging
International, LLC. This International expansion will augment the
Company's aggressive domestic rollout of electric car charging stations.
"We believe it is very clear that electric vehicles will play an increasing
role on the international scene. While significant strides have been made
in the International EV market relative to standardization and battery
performance, the lack of a pre-existing operational infrastructure for
charging systems remains a major obstacle to mass-market adoption. This
creates an excellent opportunity for our new subsidiary Car Charging
International, LLC," commented Andy Kinard, President of Car Charging
Group, Inc. "With electric vehicle production at the head of auto
manufacturers' plans to comply with new emissions regulations as well as
the exorbitant cost of fuel, we believe the market for charging stations
will be especially robust over the coming years."
Car Charging is anticipating the arrival of electric vehicles and believes
that it is at the forefront of the electric vehicle revolution. The
Company is at the head of the transition period from gas-powered
automobiles to electric vehicles. The arrival of electric vehicles
requires the construction of a network of geographically dispersed charging
stations that will provide ready access to electricity and alleviate
consumers' "range anxiety" fears.
About Car Charging Group, Inc.
Car Charging Group, Inc. is an owner and provider of electric car charging
stations with the mission to build-out a nationwide infrastructure,
enabling vehicle owners to charge their electric cars anytime, anywhere. As
part of its strategy, the Company owns, provides, installs and maintains
electric vehicle car charging units and works with its landowner partners
to identify appropriate locations for its charging stations. The Company
seeks to provide convenient, safe and affordable charging stations away
from home in customer-friendly public locations, including municipalities,
shopping malls, parking garages and grocery stores.
With an estimated 40 million plug-in electric vehicles on the road by 2030,
the need to establish charging station networks throughout the
transportation infrastructure is critical to providing easy access to
energy everywhere drivers live and work. By investing at the forefront of
the electric car revolution, Car Charging Group seeks to become the leading
provider of electric car charging stations. The Company initially plans to
launch its service in the South Florida market and expand nationally and
internationally over time. Car Charging Group, Inc. is based in Miami,
Florida. The Company's website can be viewed at www.carcharging.com.
Forward-Looking Safe Harbor Statement:
This press release contains forward-looking statements that are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. By their nature, forward-looking statements and
forecasts involve risks and uncertainties because they relate to events and
depend on circumstances that will occur in the near future. There are a
number of factors that could cause actual results and developments to
differ materially from forecasted results. These risks and uncertainties
include product demand, market competition, fluctuations in advertising
payouts, delays in website & application development, technical issues
beyond our control, reliance on the various platforms that we build
applications on, and risks inherent in our operations. For a discussion of
these risks and uncertainties, please see our filings with the Securities
and Exchange Commission. Our public filings with the SEC are available from
commercial document retrieval services and at the website maintained by the
SEC at http://www.sec.gov.
Investor Relations
ZA Consulting, Inc.
212-505-5976
Press Contact:
Joanne Kaniewski
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