Car Charging Group Inc. (OTC:CCGI) today announced, in a press release, that it has signed a deal with SJTS Developers LLC to provide electric vehicle (EV) charging services at the Ramada Inn, located at 21 Signal Knob Drive in Strasburg, Virginia. This deal marks Car Charging Group's first entry into the Virginia market and its first installation agreement in the hospitality industry. As I write, shares of Car Charging Group were down 12 percent at $2.55 per share on very light volume of 2,465 shares compared to its average daily volume of 4,603 shares. The company has a 52-week range between $1.55 and $75.00 per share."With recent announcements from Hertz, Enterprise and other car rental companies that they will start renting out electric vehicles, it is important that travelers have a place to recharge them," said Jerry King, owner of SJTS Developers.
"More than 20 electric vehicle models, including the Chevrolet Volt, made by GM, and the Nissan LEAF are beginning to hit the U.S. market," said Michael D. Farkas, Chief Executive Officer of Car Charging Group. "Creating the robust EV infrastructure necessary to support these cars takes commitment and from numerous parties and we feel that hospitality and travel industries will play an integral role and are pleased SJTS has chosen to partner with us on this installation."
Car Charging Group, Inc. is based in Miami, Florida. The Company's website can be viewed at www.CarCharging.com.
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