LAS VEGAS, NV, Feb 14, 2012 (MARKETWIRE via COMTEX) –Leo Motors, Inc. (pinksheets:LEOM) announced today that it hasentered into an agreement with Mastretta Cars to co-develop theelectric version of their 2012 Mastretta MXT.
The Mastretta MXT was recently recognized by Road & Track Magazine”10 Best Cars”; L.A. Auto show on Nov. 17, 2011, and was also wellreceived at the Paris Auto show.
The development of this high performance electric sports car will usethe body and chassis of the Mastretta MXT and the electric powertrain, electric motor, battery power pack and other electric vehicle(EV) components from Leo Motors.
Additionally, Leo has entered into a Memorandum of Understanding(MOU) with Beverly Hills Exotic Motors in Los Angeles to promote andsell the MXTE once the development is complete.
Deloss Pickett of Beverly Hills Exotic Motors added, “The combinationof Leo Motors’ proven technology and Mastretta’s design andproduction capability is a stunning combination that will be the envyof Hollywood and to be sought from around the world while at areasonable price.
“The MXT is already a wonderful gas powered street legal race carpowered by a Turbo Ford-sourced engine.
“I recently test drove the MXT at Mastretta’s home track outside ofMexico City and it is a thrill to drive. The car is eye-popping onthe freeway as well. I’m honored to have the opportunity to work withthese two innovative companies.”
Leo claims that the MXTE will perform higher speed and longerdistance than any other EV’s ever developed for the road using MXT’slight weight aluminum and carbon fiber body and Leo’s high powerelectric power train and battery management system (BMS).
According to John Lee, CEO of Leo Motors and a pioneer in the EVindustry, “Leo has already been developing an electric super carnamed as LZ-1 since last year and by adding the MXT to its portfolio,Leo will be specialized in the high speed premium EV market.”
John Lee noted that Mexico is Korea’s 10th largest trading partnerposting $11.3 billion in 2011.
LEO MOTORS is a US public company based outside of Seoul, Korea,engaged in the development, manufacture and sale of Electric Vehicle(EV) power trains and components. Leo has developed many original EVpower trains and has converted many models of existing internalcombustion engine (ICE) vehicles into EVs, including scooters,motorcycles, highway speed sedans, buses and trucks. Leo Motors hasalso developed Zinc Air Fuel Cell Generator (ZAFCG) which will freeEV’s from range limitation with zero emissions.
About Mastretta Cars
MASTRETTA CARS is a division of Tecnoidea SAPI de CV, a Mexicandesign and engineering consulting firm based in the Mexico City areawith more than 20 years experience in the transportation industry.Through creativity, innovation and technology, Tecnoidea helpsbusinesses create products from the initial concept all the way tosuccessful product development. Tecnoidea effectively becomes anextension of its clients’ product development team. Backed by a solidreputation in providing world-class design and engineering services,Tecnoidea enables visions to become commercial success.
Tecnoidea drew upon all areas of its business to develop the MXT,which clearly demonstrates the capabilities of the company.
this press release includes “forward-looking statements” within themeaning of Section 27A of the Securities Act of 1933, as amended, andSection 21E of the Securities Exchange Act of 1934, as amended. Inaddition to statements which explicitly describe such risks anduncertainties, readers are urged to consider statements labeled withthe terms “believes,” “belief,” “expects,” “intends,” “anticipates,”"will,” or “plans” to be uncertain and forward looking. Theforward-looking statements contained herein are also subjectgenerally to other risks and uncertainties that are described fromtime to time in the company’s reports and registration statementsfiled with the Securities and Exchange Commission.
CONTACTS: Mike King Princeton Research, Inc. (702) 650-3000 for Commercial Interests: Deloss Pickett Beverly Hills Exotic Motors (310) 775-7496
SOURCE: Leo Motors, Inc.
Copyright 2012 Marketwire, Inc., all rights reserved.