SOURCE: Li-ion Motors Corp.

February 28, 2011 08:30 ET

Li-ion Motors Corp. (OTCBB: LMCO) (FRANKFURT: LL9L) as Gas Prices Rise, Media and Consumers Look to Li-ion Motors for Answers

Demand for Electric Vehicles Continues to Grow Across the Country

MOORESVILLE, NC--(Marketwire - February 28, 2011) - With gas prices climbing, media and public attention for Li-ion Motors' (OTCBB: LMCO) (FRANKFURT: LL9L) lithium-ion battery powered electric cars continues to flourish.

"There is pain at the pump and you are probably feeling it," is how CBS-affiliate WBTV led their story on a press event heralding the installation of a cutting edge dual-port charging station at the Ritz-Carlton in Charlotte for the luxury hotel's guests driving electric vehicles (EV) and plug-in hybrids.

"The electric car is supposed to get us out of this mess but so far only a few people have them. Today a factory in Mooresville is announcing they are ready to change the game completely," said anchor Jamie Boll.

That reference was to Li-ion Motors which, with its research and development headquarters just 30 miles north of Charlotte, brought its original design Inizio and Wave II cars along with one of company's popular conversion vehicles, an all-electric Mini Cooper convertible, to support the Ritz-Carlton event.

The word of the day was "Wow!" Already a hit at the major auto shows in Los Angeles, Las Vegas, Detroit and Washington, the Inizio proved just as exciting to media in the company's hometown who got to see it for the first time. 

As many took their first ride ever in a 100% electric vehicle, it was both a surprise and thrill that a flashy red supercar with the European styling of the Inizio was designed and built in North Carolina.

The editor of the Charlotte Observer's tony Lake Norman and Southpark magazines, Leigh Dyer, wrote, "Turns out, they're fast and eerily silent, with just a slight electric whine as they build up speed. At stoplights, there's no idling whatsoever. Only the lights in the dashboard show it's on. And the car I learned this in on Wednesday was developed and manufactured in our own backyard, at Mooresville-based Li-ion Motors."

Just a block from Charlotte's main square, the cars were traffic stoppers. Commenting on the reaction of guests, passersby and other media, Jennifer Moxley of Time Warner Cable's News 14, said, "These people really like how this new electric car, built in Mooresville, looks."

Li-ion Motors is a leader in the application of lithium-ion battery technology to transportation. The company has been converting gasoline powered vehicles -- cars, trucks, ATV's, motorbikes -- to 100% electric for eight years for individual consumers as well as business and government agency clients. That variety spurred favorable comments about the range of electric cars becoming available to the public.

"Li-ion Motors makes the world's fastest (electric) car called the Inizio but it also has plenty of affordable options too," said WBTV business reporter Melissa Hankins, referring to Li-ion's Progressive Insurance Automotive X Prize winning Wave II, which exemplifies functional practicality with its 28 cubic feet of storage space and more than 187 MGPe (miles per gallon equivalent) and conversions such as the Mini Cooper convertible.

Also on hand for the event were special guests including NBA star Boris Diaw of the Charlotte Bobcats, who at 6'9" marveled at the Inizio's substantial leg room as well as its tremendous torque off the line, and former Carolina Panther quarterback, current CBS football analyst Steve Beuerlein, who took note of the Ritz-Carlton's forward thinking as well as the selection of Li-ion Motors vehicles that will take advantage of it.

"What if you could ditch the pump? What if you could plug in to something better?" asked Hankins. With the Inizio, Wave II and its conversion cars and trucks, Li-ion Motors shows that you can.

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. 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.

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.

Contact Information