MOORESVILLE, N.C., Aug. 9, 2010 (GLOBE NEWSWIRE) -- Li-ion Motors Corp (OTCBB:LMCO) (Frankfurt:LL9L) www.Li-ionMotors.com, 21st Century Design & Engineering of emission-free, all electric high speed, long range automotive propulsion systems using the latest lithium-ion battery technology, is delighted to be part of an elite group of finalists, one of only nine vehicles remaining after rigorous efficiency, safety and performance competitions during the Progressive Automotive X-Prize competition.
Li-ion Motors' WAVE II's innovative and aerodynamic body design is featured on the cover of Popular Mechanics. The distinctive, green lithium powered vehicle possesses an advantage over the competition providing additional storage and enhanced in-traffic safety features not often found in other models of its kind. The U.S. built vehicle was specifically constructed for maximum energy efficiency, without body style obstacles that could result as a hazard in real-world driving situations.
The PIAXP is a global competition that awards a $10M Grand Prize to the first team to build a car that gets at least 100 MPGe in real world driving, is safe, affordable and desirable offering consumers more efficient vehicle choices.
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.