NEW YORK, NY – May 4, 2011 – (Motor Sports Newswire) – Electric Moto Corporation (PINKSHEETS: EMOT), a provider of state of the art electric vehicles, revealed today the name of one of the cutting edge vehicle companies with which a potential merger or acquisition was being investigated.
According to Robert Lancellotti, Chairman of Electric Moto: “Engineering Institute, LLC of Farmington, Arkansas, has a lengthy history of design innovation and technological advancement, and is directed by one of the most forward-looking guys that we have met in the industry.”
“Dr. David Renfroe’s company has brought new and ground-breaking thinking to the three-wheeled vehicle, or K-Lean Machine as EI has named it, and the resulting vehicle concept has already sparked substantial interest in several large Asian markets.”
Dr. Renfroe, who just returned from a series of meetings in India with manufacturing representatives, spoke also of the substantial opportunities that a vehicle of K-Lean’s advanced technology could provide: “For essentially the cost of a motor scooter, one can produce an enclosed three-wheeled vehicle that offers protection from the elements, a more pleasant riding experience, and of course huge savings — 200 miles per gallon if gasoline powered, and even greater savings and essentially no carbon footprint if electric powered.”
Dr. Renfroe added that he looked forward to a satisfactory conclusion to the negotiations with Electric Moto in the very near future, and the beginning of several prototypes shortly thereafter.
EMOT is a leading technology and lifestyle company dedicated to the development, production and distribution of zero emission vehicles and related products. The 72 Volt Dual Sport electric motorcycle leads the charge of EMOT’s “Green” vehicles including an electric bicycle, ATV and personal watercraft.
Statements contained in this communication that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect current views of management with respect to future events and are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected, or described pursuant to similar expressions.
This communication is not and shall not be deemed to be an offer to sell or solicitation of an offer to buy any securities of the above mentioned company.
SOURCE: Electric Moto Corporation