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EV Project Participant Rebates Available for Nissan LEAF SL Purchasers in Tennessee

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  Published in Stocks and Investing on Thursday, August 11th 2011 at 5:06 GMT by Market Wire
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NASHVILLE, Tenn.--([ BUSINESS WIRE ])--ECOtality, Inc. (NASDAQ: ECTY), a leader in clean electric transportation and storage technologies, today announced that $2,500 rebates are still available for the first 1,000 EV Project participants in Tennessee who purchase a Nissan LEAF SL model with DC Fast Charge capabilities. The state of Tennessee announced in September 2010 that $2.5 million had been budgeted for the rebates that are realized at the point of sale and credited against the purchase price. The state rebate will complement a federal tax credit of up to $7,500 for the electric vehicle purchase.

"This rebate also complements the consumer offerings of The EV Project to make purchasing an EV a sound economic decision."

Tennessee is an original pilot market for The EV Project, the largest deployment of electric vehicles and charging infrastructure. Sponsored by the US Department of Energy, The EV Project is deploying commercial charging stations in Tennessee in the major metropolitan areas of Memphis, Nashville, Knoxville, and Chattanooga and corresponding transportation corridors. Data gathered from the EV Project will be used to understand the charging behavior of EV drivers and how best to deploy charging infrastructure across the country.

aThe statea™s $2.5 million investment highlights Tennesseea™s commitment to becoming a premier market for electric vehicles, and will further incentivize drivers to purchase a Nissan LEAF and enroll in The EV Project,a stated Jonathan Read, CEO of ECOtality, Inc. aThis rebate also complements the consumer offerings of The EV Project to make purchasing an EV a sound economic decision.a

In addition to purchasing a Nissan LEAF SL model with DC Fast Charge capabilities, potential LEAF owners must live in Tennessee and apply for the EV Project via the online Nissan LEAF Customer Journey to qualify for the rebate. Applicants must own their own home, intend on residing there for a minimum of two years and provide a valid state of Tennessee zip code. Finally, applicants must be willing to sign up and share their LEAF charging data as a part of the EV Project. All EV Project participants will receive a Blink Wall Mount charger free of cost, as well as a free or substantially subsidized installation.

aWea™re working hard to create a business-friendly environment in which companies like Nissan can grow and create jobs,a said Molly Cripps, Energy Division director, Tennessee Department of Economic and Community Development. aOffering the rebates for EV participants is one way we can help support an existing Tennessee business and encourage future economic growth.a

The Nissan LEAF is the worlda™s first all-electric, zero-emission vehicle designed for the mass market. The LEAF launched in Tennessee and other initial markets in December 2010, and is continuing its rollout to nationwide availability. In late 2012, the Nissan LEAF and the lithium-ion batteries that power it are slated to be built at Nissana™s manufacturing plant in Smyrna, Tenn. Nissan is constructing an all-new, state-of-the-art battery plant with an eventual annual capacity of 200,000 battery packs. The LEAF will be built at the Smyrna Assembly Plant, alongside other Nissan and Infiniti models. Nissan is dedicated to improving the environment under the Nissan Green Program and was recognized as an ENERGY STAR® Partner of the Year by the U.S. Environmental Protection Agency in 2010 and 2011.

aNissan is proud that Tennessee will serve as the U.S. production base for the Nissan LEAF, the first all-electric, zero-emission car for the mass market,a said Tracy Woodard, director, government affairs, Nissan North America. aWe appreciate the EV Project and the Statea™s efforts in offering Tennesseans an additional benefit towards the purchase or lease of a Nissan LEAF, which is sure to further the mass adoption of this breakthrough technology.a

Steps to Enroll in The EV Project

Nissan LEAF customers can enroll in the project before theya™ve ordered their LEAF by following these steps:

1. Log onto the Nissan LEAF website [ here ]
2. Complete the Reservation process
3. Choose option for free home charger
4. Complete the qualification questionnaire
5. A certified contractor will contact you to complete a home site assessment
6. Accept the terms and conditions for enrollment in The EV Project
7. Order the vehicle including the DC Fast Charge port. Your dealership will complete the paperwork for rebate and take $2,500 off the price of the vehicle
8. Receive your free Blink Residential home charger prior to vehicle delivery
9. Enjoy using the Blink network of public charging stations to supplement home charging

Members who are already enrolled in the EV Project and have taken ownership of their Nissan LEAF are still eligible to applyfor the rebate retroactively. These EV Project members should contact their Nissan dealer.

About The EV Project

ECOtality is the project manager of The EV Project and will oversee the installation of approximately 14,000 commercial and residential charging stations in 18 major cities and metropolitan areas in six states and the District of Columbia. The project will provide an EV infrastructure to support the deployment of 8,300 EVs. The project is a public-private partnership, funded in part by the U.S. Department of Energy through a federal stimulus grant and made possible by the American Recovery and Reinvestment Act (ARRA). For more information about The EV Project, please visit [ www.theevproject.com ].

About ECOtality, Inc.

ECOtality, Inc. (NASDAQ:ECTY), headquartered in San Francisco, California, is a leader in clean electric transportation and storage technologies. Through innovation, acquisitions, and strategic partnerships, ECOtality accelerates the market applicability of advanced electric technologies to replace carbon-based fuels. For more information about ECOtality, Inc., please visit[ www.ecotality.com ].

About the Tennessee Department of Economic and Community Development

The Tennessee Department of Economic and Community Developmenta™s mission is to develop strategies which help make Tennessee the No. 1 location in the Southeast for high-quality jobs. The department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. To find out more, go to [ www.tn.gov/ecd ].

Forward-Looking Statements

This release contains 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 forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.