SOURCE: 2050 Motors, Inc.

April 04, 2016 09:30 ET

2050 Motors, Inc. Successfully Completes Marketing Sales Campaign for Its All Carbon Fiber Electric Auto

LAS VEGAS, NV--(Marketwired - April 04, 2016) - Today Michael Hu, President of 2050 Motors, Inc. (OTCQB: ETFM), announced the successful completion of the marketing program of its all carbon fiber electric vehicle called the e-Go.

The test program required prospective customers to place a $1000 deposit check to hold an early delivery position to purchase the ultra-lightweight carbon fiber electric vehicle. The marketing was only available for a two-week period ending March 31, 2016. The target test area was limited to Las Vegas and the surrounding areas where only a limited amount of advertising was done. As previously announced the first 25 vehicles received deposits in the first hour of the sales program. The program included many free options for these initial customers. Please see http://www.2050motors.com/pre-order/pre-order-form.html for details.

Mr. Hu stated, "The Company is proud to announce that in order to reward these initial buyers, 2050 Motors will not deposit any of the $1000 escrow checks and that all these checks will be returned to the customers. However, all participants will receive all the free options offered in this program and will retain their ordering position for the future delivery of the e-Go electrics."

Michael Hu continued, "If the results of this marketing study are extrapolated to just an area across the southern portion of the United States, 2050 Motors would have had enough deposits to sell almost all of its first year projected production for the e-Go (in just a two week period). Of course, extrapolation forecasts are not always predictable, but then this marketing test program was only conducted for two weeks with limited advertising in only one city: Las Vegas."

Marketing data and customer participation in a regional pre-order launch program (such as the one 2050 Motors embarked upon) is a very valuable tool which other companies can use to evaluate their future marketing strategy. Therefore, 2050 Motors will not release the final results of this initial regional offer since we will be using this data to format our much larger nationwide campaign to sell our carbon fiber vehicles later this year.

Michael Hu also stated, "We have a tremendous amount of gratitude to the people who stepped up and placed their $1000 deposits to ensure that they will be first on the list to receive these vehicles. We hope these initial buyers will be happy with all of the free options that are going to be given to them under this program. All participants will be contacted about their privilege buying position and free options within the next two weeks."

Please note that the e-Go has already undergone extensive computer simulations, road tests and actual crash testing in China. The e-Go has successfully passed preliminary crash testing at the world renowned CATARC (China Automotive Technology & Research Center) Institute (http://www.catarc.ac.cn/ac2016/index.html).

It is also noteworthy that Tesla Motors, Inc. (https://www.teslamotors.com/) is now accepting $1000 deposits on its new commuter vehicle called the Model 3, which will be a direct competitor for the carbon fiber e-Go. Many people have suggested some unusual methods for comparing these two vehicles. Although 2050 Motors does not endorse any of these comparisons, it is interesting just to review them to see how electric vehicle buying customers might compare the two companies and the two programs, as follows:

1) The estimate for the Tesla Model 3 vehicle to be produced is approximately two years in the future. Whereas the electric e-Go plant is already completed and ready to start up production of vehicles in a few weeks. See video of completed electric e-Go automobile plant: http://youtu.be/wih8_xxZNgA

2) Whereas the Tesla $1000 deposit program is worldwide, the 2050 Motors program was isolated to the Las Vegas area and was only available for a two week market test period.

3) Although manufacturer specifications are not available yet, people are estimating the lightweight carbon fiber e-Go will be approximately 1000 lbs lighter in weight than the Model 3. This will make the e-Go a much more efficient vehicle, especially in urban driving conditions.

4) 2050 Motors has virtually no liabilities, whereas Tesla Automobile Company has liabilities (debts) in the order of approximately three billion dollars.

In conclusion, there are many other unusual types of comparisons that can be formulated between the two companies, some negative and some positive. However, it is interesting to review people's thoughts on this new emerging automobile industry.

We congratulate Tesla for their Model 3 unveiling. However, the super-lightweight highly-efficient e-Go with its all carbon fiber body, which is five times stronger than steel and one third the weight of steel, built on a high grade extruded aluminum alloy frame is ready to take on any competitor including the Tesla Model 3 commuter car and the new electric Chevy Bolt.

It's not 2050 Motors' intention to competitively out sell the e-Go against the Model 3 from Tesla or the Chevy Bolt because of their already existing name recognition. However, it's also true that 2050 Motors does not need to sell a significant number of vehicles for the Company to become profitable. Large automobile companies have to recapture hundreds of millions of dollars that they have invested in the creation of their vehicle and they also have to cope with huge overheads. This is not true for 2050 Motors, we have virtually zero liabilities and even if we capture a very small percentage of the marketplace we can turn significant profits even from the initial sales of our vehicles.

No automobile company has been able to produce an electric carbon fiber vehicle in the $30,000 to $35,000 price range to compete with the 2050 Motors' electric e-Go (MSRP $33,900 that after the federal tax rebate will be $26,400).

About 2050 Motors, Inc.

2050 Motors, Inc. (http://www.2050motors.com and http://www.etfm.com) is a publicly traded company incorporated in Nevada in 2012. 2050 Motors was founded to develop and produce the next generation of clean, lightweight, efficient vehicles and its associated technologies. Some of these technologies include alternative renewable fuels, hybrid electric vehicles, advanced graphene lithium batteries and carbon fiber low cost vehicles. 2050 Motors has been successful in forming long term relationships and exclusive contracts for a variety of game changing technologies. 2050 Motors entered into an agreement with Jiangsu Aoxin New Energy Automobile Co., Ltd., located in Jiangsu, China, for the distribution in the United States of a new electric automobile, known as the e-Go EV (electric vehicle). The e-Go EV is a revolutionary new concept in the ever evolving world of electric vehicles. It will be the only production line electric car with a carbon fiber body and parts manufactured by a new process using robotic machines which significantly reduces the fabrication time and cost of carbon fiber components. The e-Go EV will seat four passengers, have a long battery life, and high energy efficiency rating up to 150+ MPG-E energy equivalent in urban driving due to the light weight of the vehicle. The five passenger carbon fiber luxury sedan Ibis EV, the e-Go's big brother, will also be showcased along with the e-Go EV for future sales in the United States. See videos of completion of the e-Go EV manufacturing plant at https://www.youtube.com/watch?v=wih8_xxZNgA and the unveiling of the e-Go EV at the 2014 Shanghai Auto Show http://www.2050motors.com/shanghaishow.html. The company is fully reporting under the SEC EDGAR system.

Disclosure Statement

Statements in this press release about our future expectations, including without limitation, the likelihood that 2050 Motors will be able to leverage capital markets to execute its growth strategy, meet US DOT requirements, meet minimum sales expectations, will be successful and profitable in the US market, and will bring significant value to 2050 Motors' stockholders, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.

Contact Information

  • Contact:
    George Hedrick
    VP North American Operations
    2050 Motors, Inc.
    (702) 591-6029
    info@2050motors.com

    Investor Inquiries:
    Tim Connor
    Benchmark Advisory Partners LLC
    (866) 703-4778 Toll Free