Politics

Car and Driver races into GreenTech controversy

Car and Driver races into GreenTech controversy

This article was originally published by watchdog.org

WASHINGTON – Car and Driver magazine, which generally steers clear of politics, doesn’t like what it sees under the hood of Terry McAuliffe’s GreenTech Automotive.

“Investors looking to score on the next Tesla Motors should start slapping themselves back to reality,” the magazine stated this week.

The article lists a long line of electric-car companies that are “either dead or barely standing, fettered with poor management, little cash and exaggerated promises.”

“Next up, according to our battery-powered crystal ball: GreenTech Automotive,” the magazine predicted.

Representatives of GTA did not return requests for comment.

McAuliffe, making his second bid for governor of Virginia, stepped down as company chairman in December. That resignation was not announced until April, three days before GreenTech sued Watchdog.org for $85 million, alleging that its news coverage defamed the company and damaged investor relations.

“GreenTech’s true salvation is a retrofitted electric sedan built by JAC, a Chinese automaker best known for cloning the Ford F-150,” Car and Driver stated.

But citing a U.S. Securities and Exchange Commission investigation of GreenTech and sister company Gulf Coast Funds Management, the magazine suggested that GTA, of which McAuliffe remains a part owner, could be in for a rough ride.

“It’s not every day you see Car and Driver weigh in on the Virginia gubernatorial race,” noted Jahan Wilcox, a spokesman for the state Republican Party.

“There’s a good chance Terry McAuliffe will not be named Auto Executive of the Year,” Wilcox said.

Kenric Ward is chief of Watchdog.org’s Virginia Bureau. Contact him at [email protected]


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