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Published in House and Home on Friday, June 25th 2010 at 2:41 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
LAS VEGAS--([ BUSINESS WIRE ])--Leo Motors, Inc. (Pink Sheets: LEOM) became a true manufacturer of electric vehicles (EVs) as it opened its own manufacturing plant near Hanam City, Korea. Leo will produce more than 1,000 units of Hilless 1, 3, and 5 scooters per month in the new plant. As Leo now can control the manufacturing process of products, it can enhance the quality of its scooters. Leo anticipates that its manufacturing costs should go down due to the elimination of the need to pay an outside manufacturer. Prior to opening this plant, Leo outsourced its manufacturing to an independent suppliera™s facilities, which Leo had determined was not cost effective.
"Operating our own plant will give us more security in protecting our intellectual property as well as cost leadership and quality enhancement."
Dr. Robert Kang, CEO of Leo Motors, said, aOperating our own plant will give us more security in protecting our intellectual property as well as cost leadership and quality enhancement.a With the opening of the new plant, Leo intends to begin global sales of its scooters and to show its scooters in international exhibitions and fairs more actively. You can see the picture of Leoa™s own plant on its website, [ www.leomotors.com ].
About Leo Motors
Leo Motors is engaged in the development, manufacture and sale of electric vehicles (aEVsa) and EV components. Leo has designed many original EVs and has converted many models of existing internal combustion engine (aICEa) vehicles into EVs, including scooters, motorcycles, full speed sedans highway buses and trucks. Leo Motors has also developed several original EV components, and is actively marketing them as a bundled conversion kit for ICE vehicles. For additional information, please contact:
Mike King
Princeton Research, Inc.
(702) 650-3000
Forward-Looking Statement
This press release includes aforward-looking statementsa within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms abelieves,a abelief,a aexpects,a aintends,a aanticipates,a awill,a or aplansa to be uncertain and forward looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the companya™s reports and registration statements filed with the Securities and Exchange Commission.
