Nustate Announces Primary talks with SAIC-GM-Wuling Automobile
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COLUMBIA, S.C. - November 26, 2014 - InvestorsHub NewsWire - NuState Energy Holdings, Inc. (OTC-PINK:NSEH) announced today, that it started primary talks with SAIC-GM-Wuling Automobile to enter into a license agreement in relation to the purchase of NuState’s IP software, GPSTrax, for use by SAIC-GM-Wuling Automobile in China.
SAIC-GM-Wuling Automobile is a joint venture between SAIC Motor, General Motors, and Liuzhou Wuling Motors Co Ltd. Based in Liuzhou, Guangxi Zhuang Autonomous Region, in southwestern China, it makes commercial and consumer vehicles sold in China under the Wuling and Baojun marques, respectively. A major mass-volume producer in the Chinese interior, in 2011 SGMW sold 1,286,000 vehicles in China, 1,445,000 in 2012, and aims to sell 2 million cars annually.
Earlier today NuState Energy Holdings announced that it has entered into a $50 million a definitive agreement senior secured revolving line of credit facility (the “Credit Facility") with TCA Global Credit Master Fund, LP to fund the new business of pertinent, real-time information to the worldwide transportation and security industries.
