SOURCE: Li-ion Motors Corp.

February 02, 2011 09:00 ET

Li-ion Motors Corp. (OTCBB: LMCO) (FRANKFURT: LL9L) Inizio and WAVE II Lauded by Drivers, Legislators and Policy Makers

100% Electric Cars Are a Hit at Washington, D.C. Auto Show

WASHINGTON, DC--(Marketwire - February 2, 2011) - Just a few days after President Barack Obama, in his State of the Union address, put forward the objective of putting a million electric cars on American roads by 2015, Li-ion Motors (OTCBB: LMCO) arrived at the Washington Auto Show to prove that the technology to achieve the dream of clean and efficient transportation alternatives is already here and ready to go.

Since the show opened with a media and VIP preview on January 28, multitudes of consumers, global media, government leaders and policy makers have had the chance to see firsthand the company's 100% electric WAVE II, winner of the Progressive Insurance Automotive X Prize, and the Inizio, the high performance electric supercar.

This included the Department of Energy's Assistant Secretary for Policy & International Affairs, David Sandalow, and Oregon Senator Jeff Merkley, both strong advocates for electric vehicles and American energy independence.

Merkley introduced the bipartisan "Electric Vehicle Deployment Act of 2010," with Senators Byron Dorgan (D-ND), Lamar Alexander (R-TN) and Sandalow is the author of Freedom from Oil: How the Next President Can End the United States' Oil Addiction.

The cars anchor the show's Advanced Technology Superhighway, an amalgamation of renewable and clean fuel vehicles and technologies. The Washington Auto Show, with 700 makes and models from 42 domestic and foreign manufacturers, has given a high priority to new and more environmentally-friendly "green" technologies.

"People want to know that driving an alternative fuel vehicle does not mean sacrificing everything they've come to know and love about their automobiles," says Li-ion Motors CEO Stacey Fling. "With our extremely efficient WAVE II and the Inizio supercar, we demonstrate both ends of the spectrum from practical to performance."

The two primary questions from dazzled onlookers about the sleek racing-red Inizio are: "Is that really all electric?" and "That's made in North Carolina?"

Sure enough, both vehicles are made in America, in Mooresville, North Carolina, a town better known as "Race City USA" and home to many of the top NASCAR teams. As such, there is a long and proud history of automotive innovation and expertise in the region.

While the WAVE II is meant for everyday use -- it's a practical vehicle with 28 cubic feet of storage space, more than the Nissan Leaf or Chevy Volt -- the Inizio is most definitely a performance car built for speed. Its attention-grabbing racing-red paint scheme, sexy curves and low-slung road hugging profile run counter to most people's belief of what an electric car is supposed to look like. Its power and torque make it an electric land rocket.

Not that the WAVE II is bland. The aerodynamic WAVE II achieved 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 on the way to winning the prestigious Automotive X Prize competition last year.

Li-ion Motors announced earlier this year that both the WAVE II and Inizio vehicles are moving into production for consumer sales in 2011.

About Li-ion Motors:
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.

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