SOURCE: Li-ion Motors Corp.

February 24, 2011 08:00 ET

Li-ion Motors Corp. (OTCBB: LMCO) (FRANKFURT: LL9L) Teams With Ritz Carlton to Lead the Charge for Electric Cars

Infrastructure for Electric Vehicles Continues to Grow Across the Country

CHARLOTTE, NC--(Marketwire - February 24, 2011) -  The infrastructure for electric vehicles gained momentum this week as North Carolina-based Li-ion Motors (OTCBB: LMCO) joined with the Ritz-Carlton, Charlotte for the announcement of the luxury hotel's installation of a dual port charging station for its guests driving EVs and plug-in hybrids.

Featured at the unveiling were Li-ion Motors' Inizio, the world's first true all-electric supercar that embodies the raw power and art of the automobile, and the 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). Also on hand was one of the company's popular conversion vehicles, an all-electric Mini Cooper convertible.

A strong TV and print media turnout, along with special guests including NBA star Boris Diaw of the Charlotte Bobcats and former Carolina Panther quarterback, current CBS football analyst Steve Beurlein took note of the Ritz-Carlton's forward thinking as well as the variety of Li-ion Motors vehicles that will take advantage of it. At 6'9" Diaw in particular marveled at the Inizio's substantial leg room as well as its tremendous torque off the line. But the key to building an infrastructure for electric vehicles can only work if leading businesses buy in.

"What the Ritz-Carlton has done is no small thing," noted Tom Zgoda, general manager of Li-ion Motors' research and development facility just 30 miles north of Charlotte in Mooresville. "As this country straddles the line between addiction to oil and energy independence, leaders have to emerge in driving the issue forward by their actions.

 "If you're familiar with the Charlotte Ritz-Carlton you know that they are not followers. They are proven groundbreakers not only in this region but in the world when it comes to social responsibility and minimizing their carbon footprint. We are more than honored to be working with them to effect positive change in the transportation options of their clientele."

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 ten years for individual consumers as well as business and government agency clients.

According their press release, the Ritz-Carlton "became the first urban hotel in the Southeast to offer a permanently-installed Level II charging station for use by guests driving electric vehicles. The new multi-power station is located in the front drive of the LEED® Gold-certified property, is complimentary to hotel guests, and supports the hotel's commitment to environmentally-friendly practices and operations."

It headlines a wave of charging station installations in Charlotte and around the state of North Carolina as the benefits of electric transportation gain awareness and adoption. Still, such a prominent presence at a AAA Five-Diamond hotel is noteworthy for the hospitality industry, especially within the luxury sector.

The electric vehicle charging station at the Ritz-Carlton, which features two charging ports for simultaneous use, is manufactured by Coulomb Technologies and commissioned by Greenville, SC-based system integrator Thurso Power Systems. It features the industry standard SAE J1772 connector that accepts a Level II, 240-volt charge. This connection is standard on all new Li-ion Motors vehicles.

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.

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