WAVE II Moves To Production Mode on Heels of Historic X Prize Win
Joined by the Inizio, the world’s fastest 100% electric supercar
Mooresville, NC (January 25, 2011) – Li-ion Motors Corp. www.Li-ionMotors.com, winner of the 2010 X-Prize where its technology was demonstrated and validated using 21st Century Design & Engineering of emission-free, all electric high speed long range automotive propulsion systems using the latest lithium-ion battery technology, has opened an advance reservation process to the public for the company’s two new all-electric automobiles, the WAVE II and the Inizio.
Li-ion Motors Corp. announced the reservation opportunity at the North American International Auto Show in Detroit, saying that it will bring two 100% electric cars to the public in 2011, the practical and efficient WAVE II and the high performance supercar called INIZIO, (Italian for “the beginning”).
Both the Inizio and Wave II use zero gas, boast zero exhaust emissions, and are 100% electric. Qualified electric vehicles (EVs) are currently eligible for a federal income tax credit of up to $7,500.
The company is now accepting fully refundable deposits from customers wanting priority status for the first Wave II and Inizio vehicles to be produced. The base price for the Wave II, a two passenger vehicle with 28 cubic feet of storage space is $39,000 USD. The fully refundable deposit will is only $99 USD and can be made online at www.li-ionmotors.com/wave.
The base price for the Inizio, the world’s fastest 100% electric supercar with acceleration of 0-60 mph (97 kmph) in 3.4 seconds* and top speed of 170 mph* (274 kmph) (*RTX model) is $139,000 USD. The fully refundable deposit of $1000 USD can be made online at www.li-ionmotors.com/inizio.
Li-ion Motors is based in Mooresville, North Carolina, the home to many of NASCAR’s top teams and support businesses, Li-ion Motors integrated expertise in aerodynamics, fabrication, and chassis design with a decade of experience and development in electric car conversions and a leading edge battery management system that powered the Wave II to winning the Progressive Automotive X Prize last fall.
The Wave II achieved an incredible 202.5 MPGe score on the dynamometer at the U.S. Department of Energy’s Argonne National Laboratory and averaged an equally astonishing 187 MPGe when combined with on track tests run at Michigan International Speedway. The only American entry to complete all stages of the X Prize competition, Li-ion is also the first company to move from prototype to production.
The Inizio has been acclaimed by media and industry insiders as one of the most impressive cars at the 2011 North American International Auto Show in Detroit.
“It’s not just the future,” says Stacey Fling, Li-ion Motors’ president and CEO, “but a chance to own a piece of history.”
“Throughout the X Prize competition and especially after our win, interest in the WAVE and Inizio has grown dramatically,” she followed. “We gave all those who had eagerly contacted us a first shot for pre-order registration and we are opening reservations to the public.”
The strategic domestic need for energy independence and the urgency of environmentally respectful transportation are irrefutable. Li-ion Motors Corp. promises to be an integral part of the inevitable paradigm shift in sustainable transportation. The future is now.
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.
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.
Media contact:
pr@li-ionmotors.com
704-210-8804
Investor Relations:
ir@li-ionmotors.com
1-888-669-1808 or 1-305-395-6086
