Li-ion Premiers Pair of Electric Vehicles In Detroit

Company now taking advanced deposits on WAVE II and INIZIO electric sports car.

Published: 13-Jan-2011

DETROIT, MI -- Li-ion Motors Corp., 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. In the competition to bring consumers the cleanest and most efficient next generation of automotive technology, it's no wonder that a company based in a town known as Race City, USA has taken the lead.

LI-ION MOTORS CORP. www.Li-ionMotors.com, the industry leader in all-electric, long-range, high-speed vehicles and the manufacturer of the world's first all-American all electric supercar, the INIZIO, has announced at the North American International Auto Show in Detroit, 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").

Based in Mooresville, North Carolina, the home to many of NASCAR's top teams and support businesses, Li-ion Motors combined expertise in aerodynamics, fabrication, and chassis design with a decade of experience and development of electric car conversions and a leading edge battery management system to power the WAVE II to winning the Progressive Automotive X Prize.

"How do you get more than 100 miles per gallon?" says Li-ion Motor's general manager Tom Zgoda, a veteran of more than three decades with Ford. "Well, the first thing is to eliminate the gallon. Hybrid cars like the Prius and Volt are still rooted in a bridge technology still based on oil. Electricity is the real power infrastructure of this country and the world and it will eventually be readily available for car fueling as oil products are today. But nothing will happen unless we make it happen."

The $2.5 million cash prize for the WAVE II was part of a $10 Million pool awarded by the X Prize Foundation to spur innovation and development of practical cars capable of at least 100 MPGe. The WAVE II achieved a 202.5 MPGe score on the dyno at the U.S. Department of Energy's Argonne National Laboratory and averaged 187 MPGe when combined with on track tests run at Michigan International Speedway. The only American entry to complete all stages of the competition, Li-ion is also the first company to move from prototype to production. Beginning in January 2010, Li-ion Motors will accept fully refundable deposits from customers wanting priority status for the first WAVE II and INIZIO cars 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 be 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) is $139,000 USD. The fully refundable deposit of $1000 USD can be made online at www.li-ionmotors.com/inizio.

"Throughout the X Prize competition and especially after our win, interest in the WAVE and INIZIO has grown dramatically," says Stacey Fling, Li-ion Motors' president and CEO. "We have given all those who have contacted us a first shot for pre-order registration and we are determining our production cap so there will be a limited number left for each vehicle when it goes public."

In addition to the company's original vehicles, Fling says that the company will license its proprietary battery management system (BMS) and other technology to established auto manufacturers looking to leap forward in bringing all-electric vehicles to market.

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.

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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