SOURCE: Li-ion Motors Corp.

December 19, 2011 16:59 ET

Li-ion Motors Corp. Updates Shareholders on Purchase Order

MOORESVILLE, NC--(Marketwire - Dec 19, 2011) - Li-ion Motors Corp (OTCBB: LMCO) (FRANKFURT: LL9L), 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, wishes to inform our shareholders that the initial deposit of the purchase order (as stated in the press release dated 12/6/2011) has been received.

Additional funding of the purchase order which was due has not been received by Li-ion Motors to date. The buyers have indicated their desire to proceed; however they remain in breach of their agreement.

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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