NORTHRIDGE, Calif., Oct. 22, 2018 (GLOBE NEWSWIRE) -- William L. Fowler, 2050 Motors, Inc.’s New President (US OTC: ETFM), announced today that the Company will hold its Stockholders Meeting on Tuesday November 27, 2018. The meeting will be held at the Holiday Inn Express Van Nuys, 8244 Orion Avenue, Van Nuys, CA 91406 (800) 838 5317 (https://www.holidayinn.com), between 10 AM to 1 PM.
Only stockholders who are officially on record owning stock before October 19, 2018, will be eligible to vote. All stockholders are invited and the Company will not be soliciting any proxies.
Mr. Fowler clearly states, "through no fault of present or prior Management of 2050 Motors, Inc. has the Company’s long range plans to assemble and/or sale lightweight carbon fiber electric vehicles been affected or interfered with by their respective actions! The repeated delays, interference and actions by the Central Government of China has caused, 2050 Motors USA Exclusive Contracting License Company, Jiangsu Aoxin New Energy Automobile CO., LTD (AOXIN), from receiving a Multi-License to Manufacture and Export Electric Vehicles. This very valuable License is now expected on or before the end of 2018!
2050 Motors has received interim funding from interested conversion stock loan lenders who understand the International forces delaying the entrance of China electric vehicles into the American market.
Mr. Fowler also states, under his new Team’s direction 2050 Motors has been able to create a business strategy with the assistance of Consultants, State and Federal Officials to develop a comprehensive incentive program. The objective is to greatly reduce the 25% tariff imposed on Chinese goods by the US Government. This will offer 2050 Motors a pathway to assemble high-tech advanced lightweight Electric Vehicles (EV's) in the United States and greatly reduce the new tariffs.
Motivated States (i.e. Nevada, Central US States and others) have offered incentives, land, buildings, Foreign Trade Zones, etc., to provide skilled American jobs and with 2050 Motors claiming: “This Electric Vehicle (EV) was assembled in the US similar to the strategy used by companies such as Toyota and Mercedes to off-set a tariff law called "the chicken tax" imposed by President Lyndon B. Johnson in 1964, which is still in effect today. It states, any lightweight truck being imported into the United States will pay a 25% tariff. In order to manage around this tariff companies did "tariff engineering" which encompasses parts being shipped to the United States and assembled by Skilled US Labor! This action effectively reduced the tax to less than 5%!"
With our new business strategy, 2050 Motors intends to travel to China right after the mid-term elections or in early 2019 and meet with prospective interested companies outlining our new entrance strategy into the US market.
Mr. Fowler further states, "The Electric Vehicle has finally been accepted by the USA and Worldwide! 2050 Motors intends to pursue the mid-range Electric Vehicle Industry!"
We look forward to meeting all of you at our Stockholders Meeting.
About 2050 Motors, Inc.
2050 Motors, Inc. (http://2050motors.com/about-us.html) is a publicly traded company 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. The Company has been successful in forming long-term relationships and exclusive contracts for a variety of game-changing technologies.
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.
William L. Fowler
2050 Motors, Inc.