Li-ion Motors Corp. Reassures Customers That It Will Continue Producing Gas to Electric Conversion Vehicles

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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ZAP Acquires Majority Stake in China’s Jonway Auto

New Company Combines EV Expertise with Mass Auto Manufacturing in China

SANTA ROSA, CA  and ZHEJIANG, CHINA – July 8, 2010 – (Motor Sports Newswire) -

• Agreement is US$29 Million in Cash for 51 Percent
• Debt-Free Jonway Boosts ZAP’s Shareholder Value
• ISO 9000 Certified Modern Factory
• ZAP Jonway – a New International Automobile Company with Extensive EV Experience
• 141 Acres, 3.6 Million Sq. Feet Factory Opened in 2009, Capacity of 30,000 Vehicles per Year
• Jonway 2009: US$40 Million Annual Revenues; Jonway Q1 2010: US$20 Million Revenues
• 850 Employees Quality, Technology Focused
• 80 Factory-Direct and Hundreds of Factory Authorized Dealers in China
• China Auto Manufacturer Meets EU Standards
• ZAP Jonway EV is Exclusive Provider of EVs for the U.S. Pavilion at Shanghai Expo (World Fair)

ZAP (OTC Bulletin Board: ZAAP) and Jonway Group today announced they have signed definitive agreements according to which ZAP will acquire 51 percent of Zhejiang Jonway Automobile Co. Ltd. as part of a strategy to capitalize on the growing automotive and electric vehicle (EV) market in China.  ZAP is a 15-year-old California EV company and Jonway Auto is a wholly owned subsidiary of Jonway Group, a 20-year-old Chinese vehicle manufacturer. According to the terms of the definitive agreements, ZAP will acquire 51% of Jonway Auto for US$29.03 million in cash. The boards of directors for ZAP and Jonway Auto approved and signed the merger agreement on July 2, 2010.

Jonway Auto reported annual revenues of approximately US$40 million in 2009 and approximately US$20 million for the first quarter of 2010.  According to the terms of the transaction, Jonway Auto will be debt-free upon the closing of the transaction.

According to the terms of the definitive agreements, ZAP has the right to acquire the remaining 49% of Jonway Auto at the same valuation by March 30, 2011 or at a then current valuation after that date.  ZAP and Jonway intend this transaction to be phase one of a two-phase acquisition, whereby the two companies will combine their complementary expertise, leveraging ZAP’s EV technology and Jonway Auto’s quality ISO 9000 certified mass production capabilities to address the new alternative energy vehicle market. ZAP intends to acquire the remaining 49 percent of Jonway Automobile following completion of the first phase and following final regulatory approval.

The ZAP Jonway merger accelerates cost-effective manufacturing of ZAP’s electric vehicles and gives ZAP access to the Chinese market through Jonway’s distribution channels of more than 80 factory direct dealerships that feed into hundreds of factory authorized dealers.  Jonway’s volume manufacturing capacity gives ZAP a strong manufacturing base with the means of commercializing its innovative EV technologies.

“By combining ZAP’s experienced team of EV engineers with Jonway’s manufacturing capabilities, the combined ZAP Jonway will be able to scale up with the fast-growing worldwide market for affordable electric and fuel-efficient vehicles,” said Steve Schneider, CEO of ZAP Jonway. “The new entity will leverage ZAP’s extensive intellectual property and international market access with Jonway’s current China distribution channels and revenue base, for enhanced shareholder value. The new company creates an integrated worldwide sales and manufacturing operation.”

According to Dr. Priscilla Lu, ZAP Board Chair: “As originally planned when I joined ZAP in connection with the Cathaya Funds’ investment in the company, the Jonway transaction was formulated to give ZAP the complementary facilities and automotive manufacturing expertise to position itself as a worldwide EV and automobile manufacturer. Jonway’s management continues to lead and expand its product line of traditional vehicles and will begin to build the production line for ZAP’s EVs in the coming quarters. ZAP will enhance its operations management team to focus on delivering the opportunities at hand.”

Jonway Automobile, with approximately 800 employees, is currently manufacturing approximately 1,000 vehicles per month and has a capacity to produce up to 30,000 vehicles per year at its modern, 3.6 million square foot plant in Sanmen on approximately 141 acres of land.  Focused on quality, Jonway is ISO 9000 and China Compulsory Certification (CCC) certified. Jonway distributes through a nationwide network of auto dealerships in China and distribution partners in Europe and Egypt. Jonway’s 3-door SUV has been CE approved in Italy by its European partner for the European market.

“ZAP’s engineering enables us to expand into the EV market and position our company to be one of the leaders in China’s EV market,” said Alex Wang, CEO of Jonway Automobile. “The ZAP team also brings us international market access and automotive distribution channels for the new models that we are designing, and ZAP will help us meet the required international standards for these new markets.”

Earlier this year, ZAP integrated electric drive systems into several Jonway vehicles through its joint venture ZAP Hangzhou.  These vehicles are now being showcased and used as electric taxis at the Shanghai Expo.  Jonway has also agreed to produce the ZAP Alias electric car, which is now one of the remaining 15 finalists in the Progressive Insurance Automotive X PRIZE competition. ZAP is also one of the five companies selected by the United States Postal Service to engineer and retrofit a gas powered delivery van with a 100 percent electric power train.

Dr. Priscilla Lu added, “The new ZAP Jonway combined company enhances the complementary strengths of each, and uniquely positions the company in the EV market. Jonway Automobile has quality mass production manufacturing as well as access to the Chinese automobile market. ZAP can now apply its in-depth experience in EV technologies and engineering integration know-how to produce a new line of EV models for Jonway Automobile and provide access to worldwide international distribution channels.  Jonway, with physical asset value assessed at around US$60 million in land, buildings and modern manufacturing facilities, is cash flow positive, debt-free, has growing revenues, and offers shareholder value for ZAP. ZAP Jonway has now become a significant automotive manufacturer/distributor worldwide”.

About ZAP

ZAP is one of the world’s oldest and most experienced electric vehicle providers, having delivered over 117,000 of a broad range of electric vehicles to more than 75 countries since 1994. ZAP supplies electric trucks and vans to military, government and corporate fleets and is an innovator of electric motorcycles, scooters and ATVs. The Santa Rosa, California based company offers some of the only electric city-speed cars and trucks in production today and is leveraging its accrued technology know-how in developing a cost effective high-speed electric car called the ZAP Alias. Further information is available at http://www.zapworld.com.

Safe Harbor Statement

This press release contains forward-looking statements. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of ZAP’s products, increased levels of competition, new products and technological changes, ZAP’s dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the ZAP’s periodic reports filed with the Securities and Exchange Commission.

SOURCE: ZAP

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Progressive Insurance Automotive X PRIZE and Saint Louis Science Center Bring Interactive Learning E

PLAYA VISTA, CA  – May 29, 2010 – (Motor Sports Newswire) – The Saint Louis Science Center will host what will be the first of numerous Community Science Days and ongoing hands-on science activities and exhibits it has developed for museums and science centers across the country. The free, family-fun events will give visitors a unique opportunity to gain a greater understanding of the science and technology related to super-efficient vehicles. The national education program, developed by the Progressive Insurance Automotive X PRIZE and the Saint Louis Science Center, and funded with a grant from the U.S. Department of Energy, aims to engage students and the public in learning about advanced vehicle technologies and generate excitement about the energy-efficient vehicle options of the future. Museums will offer activities for visitors young and young at heart to participate in the “Under the Hood” science demonstrations, exhibits, and interactive presentations.

“The Progressive Insurance Automotive X PRIZE national education program is a call to action to promote and inspire awareness,” said Dr. Peter H. Diamandis, CEO of the X PRIZE Foundation. “We are at a pivotal moment where new technologies and innovation are essential to the continued growth and global development of our country.”

“The Saint Louis Science Center is proud to be a partner to the X PRIZE,” said Doug King, President of the Saint Louis Science Center. “We have worked together on many X PRIZE education programs over the years and, now, due to this generous grant, we are able to share the programs we develop with our Science Beyond the Boundaries^SM network, reaching 100 museums around the country.”

The education program is a component of the Progressive Insurance Automotive X PRIZE multi-million dollar competition that seeks to inspire a new generation of safe, viable and super fuel-efficient vehicles. The education program is funded by the U.S. Department of Energy as part of its commitment to inspire students and the public in learning about energy-efficiency to ultimately decrease the nation’s addiction to oil.

In addition to events and exhibits, the U.S. Department of Energy and Discovery Education have developed a comprehensive online knowledge center www.FuelOurFutureNow.com that offers resources for students, teachers and families to learn more about advanced vehicle technologies.

Various museums and science centers across the country will host ongoing exhibits and hands-on science programs for families. The California Science Center (Los Angeles, CA) and Saint Louis Science Center will debut the “Under the Hood’ hands-on science activity cart in June, followed in July by a 400-sq-ft interactive exhibit in Saint Louis, at the Henry Ford Museum (Dearborn, MI) and the Oregon Museum of Science and Industry (Portland, OR). Special Progressive Insurance Automotive X PRIZE summer programs will be launched at the Discovery Museums (Acton, MA) and Discovery Center Museum (Springfield, MO). These are only a few of the museums participating. For a full schedule of events please email progressiveautopress@xprize.org This e-mail address is being protected from spam bots, you need JavaScript enabled to view it .

ABOUT THE SAINT LOUIS SCIENCE CENTER

The Saint Louis Science Center is one of the top five science centers in the United States, serving 1.2 million visitors annually. Recently named one of the Top 10 Science Centers for Families by Parents magazine and one of America’s most visited museums by Forbes Traveler Magazine-the only museum in Missouri to be named to either list-the Saint Louis Science Center complex includes a four-story OMNIMAX® Theater, the air-supported EXPLORADOME and the James S. McDonnell Planetarium. Its mission is to ignite and sustain lifelong science and technology learning. For more information about the Saint Louis Science Center and its programs, visit www.slsc.org.

ABOUT THE PROGRESSIVE INSURANCE AUTOMOTIVE X PRIZE

The goal of the Progressive Insurance Automotive X PRIZE is to inspire a new generation of viable, super fuel-efficient vehicles that offer more consumer choices. Ten million dollars in prizes will be awarded to the teams that win a stage competition for clean, production-capable vehicles that exceed 100 Miles per gallon or energy equivalent (MPGe). The Progressive Insurance Automotive X PRIZE will place a major focus on efficiency, safety, affordability, and the environment. It is about developing real, production-capable cars that consumers will want to buy, not science projects or concept cars. This progress is needed because today’s oil consumption is unsustainable and because automotive emissions significantly contribute to global warming and climate change. For more information about the Progressive Automotive X PRIZE, please visit www.progressiveautoxprize.org or email progressiveautopress@xprize.org This e-mail address is being protected from spam bots, you need JavaScript enabled to view it .

ABOUT THE X PRIZE FOUNDATION

The X PRIZE Foundation is an educational nonprofit prize institute whose mission is to create radical breakthroughs for the benefit of humanity. In 2004, the Foundation captured world headlines when Burt Rutan, backed by Microsoft co-founder Paul Allen, built and flew the world’s first private vehicle to space to win the $10 million Ansari X PRIZE. The Foundation has since launched the $10 million Archon X PRIZE for Genomics, the $30 million Google Lunar X PRIZE, and the $10 million Progressive Insurance Automotive X PRIZE. The Foundation is creating and conducting competitions in four prize groups: Exploration (Space and Oceans), Life Sciences, Energy and Environment, Education and Global Development. The Foundation is widely recognized as the leader in fostering innovation through competition. For more information, please visit www.xprize.org.

ABOUT THE U.S. DEPARTMENT OF ENERGY

Working with a wide array of state, community, industry and university partners, the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy invests in a diverse portfolio of energy technologies. Energy efficiency and clean, renewable energy will mean a stronger economy, a cleaner environment, and greater energy independence for America. For more information about the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy please contact the EERE Information Center at 1-877-EERE-INF (1-877-337-3463) or on the web at www.energy.gov.

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