Progressive Automotive X Prize Win and Widespread Acclaim for Original WAVE II and INIZIO Car Designs Won’t Eliminate Popular Conversion Models
MOORESVILLE, NC – February 14, 2011 – (Motor Sports Newswire) – With the great acclaim being generated by its original design cars, Li-ion Motors (OTCBB: LMCO) (FRANKFURT: LL9L) wants to reassure existing and future customers that the company will continue its successful and popular conversion business.
Li-ion Motors has been converting gasoline powered vehicles — cars, trucks, ATV’s, motorbikes — to 100% electric for eight years.
“I can’t say enough about this vehicle,” says a conversion owner from Pensacola, Florida. “So far it has really exceeded my expectations. The best thing though, is knowing that I am free of the gas pump and by being free of that pump, I have achieved a small victory in a transportation system that really needs change.”
“With all of the positive publicity about our victory in the Progressive Insurance Automotive X Prize with the WAVE II (http://www.li-ionmotors.com/wave), and excitement generated by the Inizio (http://www.li-ionmotors.com/inizio/) supercar and the Wave in the Los Angeles, SEMA, Detroit and Washington auto shows, it came to our attention that people were concerned about Li-ion moving to only our original designs,” says Li-ion Motors CEO Stacey Fling.
“In fact, our conversion business will only grow as we field more requests from and aggressively pursue more opportunities to deliver leading edge electric transportation to individual consumers as well as business and government agency clients.”
“Many people are ordering Leafs in our electric vehicle association. It is some consolation that I will still have more range than them!” says an owner from Portland, Oregon.
Fling says the lessons learned in the company’s prestigious X Prize victory, where the Wave II achieved an incredible 202.5 MPGe (miles per gallon equivalent) on the dynamometer at the U.S. Department of Energy’s Argonne National Laboratory and averaged 187 MPGe in on-track testing during the competition will only improve the performance of conversion vehicles.
“In building two very unique vehicles, a dependable commuter car with plenty of storage capacity and a high-end, high-performance supercar, from the ground up, we’ve learned quite a lot that will make all of our production better.”
“I continue to be impressed and pleased with my Li-ion vehicle… I can run on electricity and never need to stop for gas or oil change and don’t need to worry about all those functions of an IC engine: coolant, belts, fluids, etc.” A Doctor in Colorado
While the company only does conversions on new vehicles, that doesn’t mean there haven’t been requests to electrify older cars. “It happens all the time,” says Tom Zgoda, general manager of Li-ion’s R&D facility. “One was for an ’85 Firebird, several others for Jeeps. We’ve gotten a request to convert an “84 Toyota Tercel and even a classic Mustang.”
Popular conversions the company has done have included Chevrolet’s PT Cruiser, the Mini Cooper, the Pontiac Vibe and more currently the Toyota Yaris and Matrix. ”Some vehicles make better electrics than others,” says Zgoda.
The president wants a million electric vehicles on American roads by 2015 and Li-ion Motors is ready to do its part.
About Li-ion Motors Corp.: (OTCBB: LMCO) (FRANKFURT: LL9L), headquartered in Mooresville, NC with corporate offices in Las Vegas, NV, is a leading developer and manufacturer of electric powered automobiles including the WAVE II and the Inizio.
Previously known as Hybrid Technologies, the company has more than ten years’ experience and expertise in the conversion of internal combustion cars to all electric for both individual and corporate customers as well as government agencies such as NASA.
The company won the Progressive Automotive X Prize in 2010 for its WAVE II, which came with a $2.5 million (USD) award. During the X Prize competition, the WAVE II whose electric motor is powered by lithium-ion batteries governed by a proprietary battery management system (BMS) was certified by the Argonne National Laboratory at 202.5 MPGe (miles per gallon equivalent).
The Inizio is the world’s first 100% electric supercar, capable of 170 mph* and acceleration from 0-60 mph in up to 3.4 seconds* (*RTX model). Both vehicles are moving into production for consumer sales in 2011.
Along with the production of original vehicles, the company licenses its proprietary BMS and technology to automobile manufacturers seeking to advance their electric vehicle offerings.
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.
SOURCE: Li-ion Motors Corp.
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