EVCARCO (OTCBB:EVCA.OB), a publicly held company in alternative energy vehicles, announced recently that the company has officially been granted its four Registered Trademarks including "EVCARCO" and its slogan "Future Driven."
EVCARCO has received significant attention over the last few months with media and press about its range of electric vehicles, business model and its alliances with the Federal Government.
EVCARCO is the first automotive retail group dedicated to deploying a coast-to-coast network of environmentally friendly franchised dealerships and vehicles. EVCARCO is bringing to market the most advanced clean technologies available in plug-in electric, alternative fuel, and pre-owned hybrid vehicles. EVCARCO has developed a dealer network allowing growth into most US States by 2012.
Tesla Motors, Inc. (NASDAQ:TSLA) recently announced its preliminary unaudited financial results for the quarter ended June 30, 2010. Revenues for the second quarter of 2010 were $28.4 million, a 36% increase from the $20.8 million reported in the prior quarter. Gross margin improved to 22%, up from 19% for the prior quarter, and up from 8% for the second quarter of 2009.
Net loss for the quarter was $38.5 million as compared to $29.5 million in the prior quarter. On a non-GAAP basis, net loss for the quarter was $26.1 million as compared to a non-GAAP net loss of $23.8 million in the prior quarter, as improved gross margin was offset by increased spending on research and development and our rapid global expansion. Non-GAAP net loss excludes charges related to stock-based compensation and the change in fair value related to our outstanding warrants. A reconciliation of GAAP results to non-GAAP results is included below.
Tesla's goal is to produce increasingly affordable electric cars to mainstream buyers relentlessly driving down the cost of EVs. Palo Alto, California-based Tesla has delivered more than 1,200 Roadsters to customers in North America, Europe and Asia. Tesla designs, develops, manufactures and sells EVs and EV powertrain components. The Tesla Roadster accelerates faster than most sports cars yet produces no emissions.
Kandi Technologies, Corp. (NASDAQ:KNDI), a leading Chinese manufacturer of recreational vehicles and developer of the "COCO" and other all electric LSVs for the international and Chinese markets, announced recently that construction of its first battery charging station in Jinhua City is currently underway. This is a major step toward accelerating Kandi's new business model announced at the beginning of this year, which aims to speed up the commercialization of pure Electric Vehicles (EVs) in China. The State Grid Corporation of China (SGCC), China's largest electric power transmission and distribution company, is funding the project and is responsible for construction, which is expected to be completed by the end of this year.
Kandi Technologies, Corp. ranks as one of the largest manufacturers and exporters of go-karts in China, making it a world leader in the production of this popular recreational vehicle. It also ranks among the leading manufacturers in China of all terrain vehicles (ATVs), and specialized utility vehicles (UTVs), especially for agricultural purposes. Recently, it introduced a second generation high mileage, two-seater three-wheeled motorcycle. A major company focus also has been on the manufacture and sales of highly economical, beautifully designed, all electric super mini cars -- for neighborhood driving and commuting. Available in convertible and hardtop models in the U.S., the COCO travels up to 60 miles at speeds reaching 25mph on a six hour charge. Recently, Kandi received government approvals for the sale of its super-mini EVs in China including the KD5010xxyev, which can go up to 45 mph. Additionally, the Company has spearheaded formation of "The Alliance for Chinese Electrical Vehicle Development and Commercialization ("The Alliance" -- see below) for the development and servicing of EVs in China with the goal of becoming a leading player in the emerging EV industry. Kandi believes that battery powered, electric super minis will become the Company's largest revenue and profit generator.
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Crown Equity Holdings, Inc. (CRWE.OB), if paid in stock, can and may sell those securities during the advertising period. Crown Equity Holdings, Inc. (CRWE.OB) has received fifteen thousand dollars in cash and thirty-five thousand dollars in EVCARCO, Inc. (EVCA.OB) restricted shares for 30 days of advertising.