SOURCE: Li-ion Motors Corp.

February 18, 2011 08:30 ET

Li-Ion Motors Corp. (OTCBB: LMCO) (FRANKFURT: LL9L) Upgrades Inizio Supercar to High Performance Paddle Shifting

LAS VEGAS, NV--(Marketwire - February 18, 2011) -  Li-Ion Motors Corp. (OTCBB: LMCO) (FRANKFURT: LL9L) www.Li-IonMotors.com, winner of the 2010 X-Prize using 21st Century Design & Engineering of emission-free, all electric high speed long range automotive propulsion systems using the latest lithium-ion battery technology, is pleased to announce, steering wheel mounted paddle shifters, once limited to Formula One and Indy style racing cars, are now de rigueur in high performance vehicles. Li-Ion Motors will be the first to offer this feature in its all-electric supercar, the Inizio.

Legend has it that the Sultan of Brunei was the first to have paddle shifting in a high performance production car when he asked the Williams F1 team in the early 90's to provide a racing-spec sequential transmission for his specially-designed Ferrari FX. The Inizio may have an Italian name -- it means "the beginning" -- but it is entirely designed and built in the USA and is completely at home with its renowned and respected European counterparts.

The sleek, wide-bodied Inizio with its classic lines and high-performance specs demonstrated (video) its raw power and has been turning heads and garnering acclaim since its debut at the Los Angeles and SEMA auto shows last year. More recently spectators at the North American International Auto Show in Detroit and those visiting the anchoring space at the Advanced Technology Superhighway of the Washington D.C. auto show were amazed as they saw the Inizio and video of the supercar on the road.

With the Inizio moving into production this year, Li-Ion Motors is not sitting on its laurels; even as it is taking reservations for the high-end car, Li-Ion is currently upgrading the Inizio's shifting, suspension and entertainment/information systems.

The paddle shifter will replace the standard H-pattern stick that is currently located in the center console. It allows drivers to keep both hands on the wheel in turns and at speed.

"The advantage for most electric cars is that their steady flow of power eliminates the need for multiple gears," says Inizio project manager Paul Daigrepont. "But the Inizio is a high-performance vehicle that must integrate both dynamic acceleration and top end speed. Discerning drivers will need and want that control."

The Inizio integrates Li-Ion Motors' award-winning lithium-ion battery management system technology, which was validated in the prestigious Progressive Insurance Automotive X Prize competition that concluded last year with the company's Wave II, taking top prize averaging 187 MPGe (miles per gallon equivalent) on the track and achieving an incredible 202.5 MPGe on the dynamometer at the U.S. Department of Energy's Argonne National Laboratory, into a high end super performance car.

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.

FORWARD-LOOKING STATEMENT:
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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