MOORESVILLE, NC-December 06, 2011 – Li-ion Motors Corp (OTCBB: LMCO) (FRANKFURT: LL9L), winner of the 2010 X-Prize using 21st Century Design & Engineering of emission-free, all electric, high speed, long range automotive propulsion systems using the latest lithium-ion battery technology, is excited to announce we have entered into a Letter of Intent (LOI) to convert 1,000 Vehicles from Gas to All Lithium Electric, delivering a range of 120 miles, while reaching highway speeds. These vehicles will then be shipped to Israel.
After extensive negotiations since summer of 2011, the LOI requires the conversion of two Ford Explorers within 120 days. Upon successful conversion, production will commence for the conversion of 1,000 vehicles. Li-ion Motors has already converted various vehicles, such as the Pontiac Vibe, PT Cruiser, Mini Cooper, Yaris, and Smart Car to name a few.
This LOI is another milestone for Li-ion Motors, as it makes history in the Electric Car market once again.
Stacey Fling, Li-ion’s CEO, states, I am pleased that for the first time we show ourselves as a force to be reckoned with not just on the technology side, but also a significant name on the manufacturing side. It’s taken hard effort and we are proud of what we have accomplished. We feel that 2012 will be the year Li-ion Motors will be recognized for what I call our “move forward year” in the automobile industry.
In December 2007, Li-ion Motors was the FIRST company to ever deliver a high speed, extended range, all Lithium Electric car to a retail consumer anywhere in the world through the “Once in a Lifetime” offer with Sam’s Club and NASA. This first, all electric lithium powered car is currently on the road and has driven over 25,000 miles, in almost daily use by its original owner, now coming up on this record breaking, fourth year anniversary. Li-ion Motors Corp. maintains the LONGEST running All Lithium Powered Electric vehicle driven by a consumer; anywhere in the world. Li-ion Motors Corp. continues to stand as the industry leader in EV technology.
Li-ion Motors unveiled, at the 2010 SEMA show in Las Vegas, The Inizio, designed and built from the ground up in our Mooresville facility, a 100% electric supercar, capable of 170 MPH with acceleration from 0-60 MPH in 3.4 Seconds with ZERO EMISSIONS, a 114 inch wheel-base and 78 inch wide footprint, the Inizio is surprisingly stable at high speeds. In addition to the Inizio, Li-ion Motors created the WAVE II, a two seat all electric, zero emission commuter car with an impressive 202.5 MPGe, as rated by the Argonne National Lab (US Department of Energy). The WAVE II was the winner of the 2010 Progressive Automotive X-Prize in the side by side competition. Both the WAVE II and Inizio are in the process of DOT Certification and upon completion will be released to the public.
Li-ion is not new to electric cars. Formed in 2000, the company is a pioneer in the advanced development of Lithium Ion battery technology. With nearly a decade of research and development, Li-ion has been converting internal combustion cars to all electric all along and is poised for significant growth moving forward. In addition to the vehicles listed above, Li-ion has also converted trucks, and motorcycles. The company’s customer base extends to other countries including Canada, the Netherlands, and the United Arab Emirates.
Headquartered in Mooresville, NC with corporate offices in Las Vegas, NV, Li-ion Motors is a leading developer and manufacturer of electric powered automobiles including the X-Prize winning WAVE II and the Inizio all electric supercar.
FORWARD LOOKING STATEMENT:
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company’s current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ.
Financial Advisors: Peak Resource Capital Partners
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