SOURCE: T3 Motion, Inc.

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March 23, 2010 07:58 ET

IRS Certification for T3 Motion Electric Vehicles Brings 10% Federal Tax Credit for Customers

T3 Series ESV and CT Micro Car Add Tax Savings to Significant Operating and Energy Cost Reduction Benefits

COSTA MESA, CA--(Marketwire - March 23, 2010) -  T3 Motion, Inc. (OTCBB: TMMM) (www.t3motion.com), a leader in cost-effective, clean-technology electric vehicles, has announced that its T3 Series electric standup vehicle (ESV) and CT Micro Car have been certified as a Qualified Plug‐In Electric Vehicle Credit under IRS Section 30. The resulting tax credit for T3 Motion customers adds to the already significant cost savings offered by the company's innovative electric vehicles in terms of reduced operating and energy costs. Customers are encouraged to take advantage of this important tax credit.

Under this certification, the vehicles are eligible for a tax credit in an amount equal to 10 percent of the cost of a qualified vehicle placed in service by the taxpayer during the taxable year. The amount of the credit allowed for a vehicle is limited to $2,500 and is available to entities filing federal tax returns.

"With the federal government providing tangible incentives for switching to clean-energy vehicles, these green solutions are fast becoming the transportation alternative of choice. We strongly encourage buyers of the T3 Series ESV to take advantage of this tax benefit as an additional way that T3 Motion vehicles can provide significant cost savings," said T3 Motion CEO Ki Nam.

The T3 Series is designed, manufactured, assembled and tested in the USA (Costa Mesa, CA). It features a zero-degree turning radius and a compact design, perfect for maneuvering through crowds and tight spaces, with speeds up to 20 mph. Also unique to the T3 Series is the most user-friendly and intuitive operation in a vehicle of its kind, giving the rider a sense of superior stability and command presence.

The environmentally friendly, zero-gas-emission vehicles include an integrated LED lighting system and an incomparable low cost of operation. They can run for less than 10 cents per day without requiring downtime due to the vehicle's two rechargeable, lightweight batteries (Power Modules) that can be easily swapped out while in use for continual deployment and an unlimited range. In addition to cost savings, the technology behind the T3 Series has also demonstrated major benefits in dramatically reducing the carbon footprint through it's extremely energy efficient electric vehicle design compared to gas powered vehicles. 

The T3 Series is also constructed with the latest environmentally friendly materials and techniques. Each vehicle is built using a lead-free assembly process, printed circuit board assemblies, paint and cover coats as well as recyclable polycarbonate blend plastics, metals and tires.

For more information on innovative T3 Motion clean-energy vehicles, visit www.t3motion.com, email sales@t3motion.com or call 714-619-3600.

About T3 Motion, Inc.
T3 Motion, Inc. (OTCBB: TMMM) specializes in cost-effective, clean-technology vehicle solutions for professional markets including law enforcement, security, retail, government and the military. The company is dedicated to raising the bar on vehicle environmental standards and green energy solutions. In 2006, T3 Motion revolutionized the world of personal mobility with the introduction of its flagship T3 Series electric standup (ESV) vehicle. The foundation of T3 Motion vehicles is the company's proprietary power management technology that maximizes range and minimizes recharging time. T3 Motion is headquartered in Costa Mesa, California. For information, email sales@t3motion.com, call 714-619-3600 or visit www.t3motion.com.

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 the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.

Contact Information

  • Public Relations Contact
    Jeff Simpson, Marketing Manager
    T3 Motion, Inc.
    949-500-3976
    jsimpson@t3motion.com

    Investor Relations Contact
    Jim Blackman, President
    PR Financial Marketing
    713-256-0369
    jim@prfmonline.com