MOORESVILLE, N.C., March 18, 2010 (GLOBE NEWSWIRE) -- Li-ion Motors Corp. (OTCBB:LMCO) (http://www.Li-ionMotors.com), 21st Century Design & Engineering of emission-free automotive propulsion systems using the latest lithium battery technology, is pleased to announce the initializing of the long distance testing of the Wave car for the Progressive Auto Insurance X-Prize with the first on track stage beginning May 2nd at the Michigan International speedway.
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Testing will also validate our estimated MPGE (miles per gallon equivalent) for the Wave car.
Li-ion Motors Corp. qualified for the next round of the 2010 Progressive Insurance X-Prize. Li-ion Motors also featured its state of the art 21st Century design WAVE II in Las Vegas at SEMA, November 3rd to 6th, 2009. At Detroit Auto, Jan 16th to 24th, Li-ion Motors displayed to the world the groundbreaking developments the company has been developing on their emissions free vehicles. Li-ion Motors feels their breakthrough will help change the way the world looks at the automobile and its construction today. From overall electrical engineering to space-age materials, futuristic aerodynamics and a new standard for safety, the company is prominently positioned and its engineering staff is ready for the competition.
The X-Prize competition is intended to inspire a new generation of viable, super fuel-efficient vehicles that offer more consumer choices. Ten million dollars in prizes will be awarded to the teams that win a stage competition for clean, production-capable vehicles that exceed 100 miles per gallon or energy equivalent.
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.