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Li-ion Motors Corp. (OTCBB:LMCO)Advances into the Knockout Round of the Progressive Automotive X-Prize

  //house-home.news-articles.net/content/2010/05/1 .. round-of-the-progressive-automotive-x-prize.html
  Published in House and Home on Monday, May 17th 2010 at 5:10 GMT by Market Wire
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MOORESVILLE, N.C.--([ BUSINESS WIRE ])--Li-ion Motors Corp. (OTCBB:LMCO)[ www.Li-ionMotors.com ], 21st Century Design & Engineering of emission-free automotive propulsion systems using the latest lithium-ion battery technology, announces that it has passed the extremely detailed mechanical, electrical, safety and vehicle design inspections covering hundreds of points, and is advancing to the driving stages of the shakedown event of the Progressive Automobile X-Prize.

LMCOa™s electric car passed tests including zero to 60 mph with a minimum time reached. The next was 0 mph to 60 mph back to 0 mph to test acceleration and braking. The third was emergency lane changing maneuvers without the use of brakes. The final tests for the shakedown were an efficiency run and durability run.

The competition began with 111 registered teams. After 4 rounds, Li-ion Motorsa™ lithium-powered vehicle remains, as one of 22 teams vying for their share of the $10 million prize. The next phase starting June 16^thand running thru June 27^thwill be held at Michigan International Speedway. This full knockout stage is designed to narrow the field to the finalists going into the following phase of the competition to be held in July.

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.