LAS VEGAS, Sept. 29, 2017 (GLOBE NEWSWIRE) — Michael Hu, President of 2050 Motors, Inc. (OTCQB:ETFM), announced today that during this last quarter 2050 Motors has decided to shift strategy to immediate preparation for Phase II of its business plan. Under Phase II, US workers will assemble electric vehicles in Las Vegas, Nevada with high-tech parts manufactured and imported from Aoxin Automobile in China including advanced carbon fiber bodies and high strength aluminum alloy frames as well as other high-quality US manufactured components.
This would benefit Aoxin Automobile and 2050 Motors in entering the US EV market as soon as possible. 2050 Motors intends to assemble and sell the e-Go EV as a low-speed neighborhood electric vehicle while the Company is completing the crash test sequence and complying with other US standards for the e-Go EV as a highway-capable vehicle. Please see the four-minute video illustrating the successful frontal crash test of the e-Go and additionally the amazing impact durability testing: https://www.youtube.com/watch?v=WeCpds1J9TE
Mr. Hu comments: “In 2016, 2050 Motors unveiled its four-passenger all-carbon-fiber body electric vehicle in Las Vegas. The e-Go carbon fiber body is five times stronger than steel and extremely lightweight, allowing it to be half the weight of competing electric automobiles which translates to significantly higher safety and energy efficiency. The high-quality carbon fiber body parts of the e-Go are manufactured by a patented low-cost process in minutes instead of hours. Aoxin Automobile is supporting 2050 Motors’ Phase II strategy by providing all their game-changing components from the new, upgraded Yancheng Plant at very competitive prices. This will allow 2050 Motors to offer e-Go all-electric passenger vehicles at affordable prices approximately $10,000 below our competitors, a significant advantage in the mid-range electric car market which has grown exponentially in the last 2-3 years.”
Mr. Hu further commented: “The world has recently been given a wake-up call by an unprecedented series of never before seen sequence of hurricanes, indicating that climate change events are here to stay. World leaders are reacting by eliminating internal combustion engine automobiles and replacing them with electric and hybrid vehicles. See as an example the following articles”:
The LA Times article titled “China is banning traditional auto engines. Its aim: electric car domination” (http://www.latimes.com/business/autos/la-fi-hy-china-vehicles-20170911-story.html) (September 12, 2017) stated, “Britain and France each vowed to implement such a ban by 2040.” This is also followed by many countries around the world including India and Norway.
And recently Bloomberg reported, “California Considers Following China With Combustion-Engine Car Ban” (https://www.bloomberg.com/news/articles/2017-09-26/california-mulls-following-china-with-combustion-engine-car-ban) (September 26, 2016).
Mr. Hu further stated: “The automakers finally got the message also. See as an example the following article:”
The CNN Money article titled “Mercedes is spending $1 billion to go electric in Alabama” (http://money.cnn.com/2017/09/22/news/economy/mercedes-alabama-billion-investment-jobs/index.html) (September 22, 2017).
In conclusion, Mr. Hu stated that, although 2050 Motors still faces challenges, we believe we are ahead of the game with a completed automobile plant ready to produce parts to build the only all-electric carbon fiber body vehicle in the world at reasonable consumer prices.
About 2050 Motors, Inc.
2050 Motors, Inc. (http://www.2050motors.com and http://www.etfm.com), is a publicly traded company incorporated in Nevada in 2012. 2050 Motors was founded to develop and produce the next generation of clean, lightweight, efficient vehicles and their associated technologies. Some of these technologies include alternative renewable fuels, hybrid electric vehicles, advanced graphene lithium batteries and low-cost carbon fiber vehicles. 2050 Motors has been successful in forming long-term relationships and exclusive contracts for a variety of game-changing technologies. 2050 Motors entered into an agreement with Jiangsu Aoxin New Energy Automobile Co., Ltd., located in Jiangsu, China, for the distribution in the United States of a new electric automobile, known as the e-Go EV (electric vehicle). The e-Go EV is a revolutionary new concept in the ever-evolving world of electric vehicles. It will be the only production line electric car with a carbon fiber body and parts manufactured by a new process using robotic machines which significantly reduces the fabrication time and cost of carbon fiber components. The e-Go EV will seat four passengers, have advanced lithium batteries, and high energy efficiency rating of up to 150+ MPG-E energy equivalent in urban driving due to the light weight of the vehicle. See videos of completion of the e-Go EV manufacturing plant at https://www.youtube.com/watch?v=wih8_xxZNgA and the unveiling of the e-Go EV at the 2014 Shanghai Auto Show http://www.2050motors.com/shanghaishow.html. 2050 Motors will start assembling and selling the e-Go EV as a low-speed neighborhood electric vehicle while the Company is completing the crash test sequence and other requirements to sell the e-Go EV as a highway-capable vehicle (please see four-minute video illustrating the successful frontal crash test of the e-Go and additionally the amazing impact durability testing https://www.youtube.com/watch?v=WeCpds1J9TE). The Company is fully reporting under the SEC EDGAR system.
Statements in this press release about our future expectations, including without limitation, the likelihood that 2050 Motors will be able to leverage capital markets to execute its growth strategy, meet US DOT requirements, meet minimum sales expectations, will be successful and profitable in the US market, and will bring significant value to 2050 Motors’ stockholders, constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.
VP North American Operations
2050 Motors, Inc.
Benchmark Advisory Partners LLC
(866) 703-4778 Toll-Free
Source: Nasdaq Automotive News