CNG-Powered Red Roadster Finds New Home

Augrid Global Holdings Corp. (Augrid) and Red Roadster Corporation (RRC) have entered into a non-binding Letter of Intent to explore the acquisition by Augrid of RRC. RRC is a privately-held Nevada corporation which created and sells the unique three-wheel, natural gas-powered vehicle which gives the company its name. Augrid is a Nevada corporation seeking to acquire privately-held companies with strong engineering and technology portfolios which would thrive as part of a public entity.
 
M.J. Shaheed, CEO of Augrid Global Holdings Corp. “We plan to continue effecting mergers in the transportation industry that are complementary to, and synergistic with, the manufacturing of alternative energy vehicles.”
 
The unique design of the Red Roadster features new, proprietary engine technology powered by natural gas and natural gas products, as well as the new products and services necessary to fuel the vehicle at home or office. Home connectivity is included in the Road Roadster’s comprehensive pricing structure, though an owner may also obtain the service from their own natural gas supplier.
 
In terms of styling the Red Roadster is described as the “ultimate” personal vehicle, giving its one or two passengers an exciting automotive experience that is both aerodynamic and green. Each Red Roadster running on natural gas goes the equivalent of 70 miles per gallon of traditional gas, leading to maximum range per fill-up in excess of 400 miles. Red Roadster says it presently has over 1,200 vehicles orders (MSRP=$19,900), totaling more than $30,000,000 of back orders.

This article was first published by NGV Global News.


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