SOURCE: Li-ion Motors Corp.

February 17, 2011 09:00 ET

Li-Ion Motors Corp. (OTCBB: LMCO) (FRANKFURT: LL9L) Supports Government Initiatives to Energize Adoption of Cleaner, More Efficient Transportation Technologies

LAS VEGAS, NV--(Marketwire - February 17, 2011) - Cleaner air to breathe and far lower operating costs should be incentive enough, yet proponents of electric vehicles know that transition from a century of oil-based engines won't happen overnight.

"Change is never easy, even when it's for the better, and we're talking about a seismic shift here." Such is the observation of Stacey Fling, CEO of Li-Ion Motors (OTCBB: LMCO) (Frankfurt: LL9L), a leading manufacturer of all electric vehicles.

"We are constantly reminded of how the oil industry plays with our wallets. Just this week, the turmoil in Egypt, which is not a major oil producer, has been used to spike prices at the pump. "

While everyone seems to agree that America's energy independence and eliminating greenhouse gases are urgent priorities, Fling acknowledges that moving away from the institutionalized fossil fuel industry will take patience, additional motivation and encouragement from the government and private sectors.

"A marathon has to start with the first step," says Fling, "and our collective evolution from our long treacherous tango with oil will be a process."

That's why she says the company, winner of the prestigious Progressive Insurance Automotive X Prize with the WAVE II (, applauds the legislation introduced by Michigan senator Debbie Stabenow.

Stabenow introduced the Charging America Forward Act last week to spur the sale and production of advanced technology vehicles. It would provide consumers with a rebate worth up to $7500 for plug-in electric vehicles at the time of purchase and give businesses a tax credit for purchasing medium or heavy duty plug-in hybrid trucks. The bill would also extend a public-private partnership Stabenow helped create to increase the production of advanced battery technologies in America.

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. In the X Prize competition, 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.

Along with the Wave II, the company has designed and created the world's first true all-electric supercar, the Inizio (, capable of speeds up to 170 mph.

"The Charging America Forward Act recognizes that a comprehensive approach is critical to electrifying the transportation sector," said Brian Wynne, President of the Electric Drive Transportation Association (EDTA). "EDTA appreciates Senator Stabenow's leadership and looks forward to working with the Senator to accelerate the commercial scale adoption of electric drive."

The senator also emphasized the objective of creating thousands of jobs in her home state of Michigan.

"We don't currently have facilities in Michigan but there's nothing to say that we couldn't in the future," says Tom Zgoda, general manager of Li-Ion's R&D facility in Mooresville, NC and a veteran of more than three decades with Ford. "There are tens of thousands of skilled workers who know how to build great cars and trucks there."

A major argument against electric vehicles is limited range and long recharging times. Based on its own research and development, Li-Ion Motors knows that the improvement in battery capacity and charging times will advance exponentially. The current range for Li-Ion vehicles is in the 200 mile area and the vast majority of drivers don't do that in a week let alone every day.

"The argument for electric is very basic," says Fling. "Electricity is already the primary infrastructure of this country and the world. It powers everything else we do. Other fuels are used to create electricity and a cleaner generation is a priority so why shouldn't it be our primary transportation fuel as well."

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 eight 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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