Press Release

Gillibrand Calls on Feds to Provide Loan for Syracuse Electric Car Company

Nov 19, 2009

Washington, DC – U.S. Senator Kirsten Gillibrand today urged the Department of Energy to approve a loan for Bannon
Automotive to develop an electric car manufacturing facility in
Syracuse, New York. The production and sale of these multiple
alternative battery electric cars will help curb carbon emissions and
could lead to the creation of 250 jobs in Central New York as part of
the manufacturing operation.

In her letter to Energy Secretary Steven Chu, Senator Gillibrand wrote, “We
have an exciting opportunity in New York State to manufacture
environmentally-friendly, affordable vehicles using power management
technology originally developed in the United States and used in India
by REVA Electric Car Limited… As we transition into a clean energy
economy, this company is the perfect example of what the future brings
for clean technology manufacturing in producing new jobs and helping to
create a cleaner environment.”

decision to locate their operation in Syracuse could result in an
initial investment of approximately $40 million into the Upstate New
York economy, with the potential to reach $50 to $75 million over the
next five years.

in Freeport, New York, Bannon is focused on the production of
affordable plug-in electric vehicles for the North American automotive
market.  Reva has granted exclusive rights for U.S. development and
production of their electric cars to Bannon Automotive.