MOORESVILLE, N.C., April 16, 2010 (GLOBE NEWSWIRE) -- Li-ion Motors Corp. (OTCBB:LMCO) www.Li-ionMotors.com">www.Li-ionMotors.com, 21st Century Design & Engineering of emission-free automotive propulsion systems using the latest lithium battery technology, is proud to announce we have advanced in the Progressive Insurance Automotive X-Prize- "After careful consideration of your submitted materials, the Technical Team has accepted your 3rd Technical Deliverable as provided. Your scorecard from TD3 is attached ... well done!" Our next stop is Michigan International Speedway for the first on track event to dial in the vehicles and test data transmission equipment.
The scorecard gives pass or fail on four essential performance areas. Li-ion Motors passed all four tests. One of the tests was an accumulated mileage of 100 miles showing the car has been driven and continues to drive up to expectations.
Li-ion Motors' entry into the X-Prize is an Electric vehicle (EV), powered by Lithium-ion batteries. LMCO's entry is not a hybrid car; it is a true electric car. Li-ion Motors is an electric vehicle manufacture, producing lithium-powered vehicles including electric mopeds, sports vehicles, and electric motorcycles in addition to the electric cars.
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.