By: Matt Rego
Alternative automotive fuels and accessories company, Greenkraft Inc. (OTCQB: GKIT) is rallying 13.50% on extremely heavy volume during trading on Wednesday, July 20, 2016. Over the past three months, Greenkraft Inc. (OTCQB: GKIT) has seen average daily volume of around 25,985 shares. However, over 3.04 million shares or dollar volume of around $495,520 has already exchanged hands during the trading session Wednesday.
There is no new updates out today that would explain the 13.50% jump in shares of Greenkraft Inc. (OTCQB: GKIT). The last update that was given from the company came on July 11, 2016, when Greenkraft Inc. (OTCQB: GKIT) announced they had entered into an agreement with Allison Transmission Holdings, Inc. to supply company with trucks that contain Greenkraft Inc. (OTCQB: GKIT) alternative fuel systems. Here is the recent announcement that should help the company boost revenue and expand its brand:
SANTA ANA, CA–(Marketwired – Jul 11, 2016) – Greenkraft Inc. ( OTCQB : GKIT ), a California based manufacturer of alternative fuel trucks and alternative fuel systems, is pleased to announce that the Company is now manufacturing trucks designed to run with a package from Allison Transmission Holdings, Inc.Greenkraft trucks are used in a variety of industries and are considered to be among the best performing in the heavy-duty market. The first line of trucks with Allison are available in classes from 19,500 LBS to 26,000 LBS GVWR, as well as other versions Greenkraft has in development for up to 33,000 LBS GVWR. These new trucks are game-changers not only for the Company but for the entire alternative energy vehicle industry as a whole.
The Allison package will provide a fully automatic transmission for Greenkraft’s clients. When factoring all of the life cycle costs, including the price of the vehicle, fuel and preventive maintenance — along with increased driver retention — an Allison Automatic-equipped vehicle costs less to operate than a competitively-equipped vehicle of lessor quality. Additionally, due to their ease of use, Allison fully automatic transmissions expand the size of the driver pool. Even experienced drivers benefit from more precise, safer handling and improved comfort. Fully automatic shifting reduces driver fatigue and keeps a driver’s attention on the road.
Based on the availability of the Allison package, Greenkraft is pleased to further enhance its offering of alternative fuel truck solutions for businesses across the United States.
About Greenkraft, Inc. ( OTCQB : GKIT ):
Greenkraft, Inc. is a manufacturer of alternative fuel automotive products. Greenkraft, Inc. was created to introduce clean, green, efficient, automotive products that run on alternative fuels. Greenkraft offers alternative commercial forward cabin trucks and alternative fuel systems for various vehicles. Greenkraft’s commercial trucks are powered by alternative fuels such CNG and LPG in Classes 3, 4, 5, 6, and 7. Greenkraft, Inc. designs, develops, and manufactures compressed American natural gas and propane gas forward cabin trucks, alternative fuel systems and alternative fuel engines. For more information, please visit our website at www.greenkraftinc.com.
About Allison Transmission Holdings, Inc.:
Allison Transmission is the world’s largest manufacturer of fully automatic transmissions for medium- and heavy-duty commercial vehicles and is a leader in hybrid-propulsion systems for city buses. Allison transmissions are used in a variety of applications including refuse, construction, fire, distribution, bus, motorhomes, defense and energy. Founded in 1915, the company is headquartered in Indianapolis, Indiana, USA and employs approximately 2,700 people worldwide. With a market presence in more than 80 countries, Allison has regional headquarters in the Netherlands, China and Brazil with manufacturing facilities in the U.S., Hungary and India. Allison also has approximately 1,400 independent distributor and dealer locations worldwide. For more information, visit allisontransmission.com.
Any statements that we make, other than historical facts, contain forward-looking information based on our business plans and assumptions at the time of disclosure. Such forward-looking information includes, but is not limited to, our expected growth strategies, projected operating results, anticipated timing for developing, obtaining approval for and bringing products to market and the status of R&D. Our business, as well as each product we develop and market, is subject to various risks and uncertainties beyond our control. Therefore, these forward-looking statements might differ substantially from the actual results. Risks and uncertainties that could affect the Company’s future results and financial condition include, but are not limited to, the factors described below. Information disclosed is subject to addition, change or deletion without notice.