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LAS VEGAS, NV --(Marketwired - March 11, 2016) - Michael Hu, President of 2050 Motors, Inc. (OTCQB: ETFM), announced today that 2050 Motors will be accepting deposits on their all carbon fiber body electric automobile, called the e-Go, on March 17th (St. Patrick's Day) starting at midnight.
Michael Hu stated, "The super-light-weight efficient e-Go with its all carbon fiber body built on a high grade extruded aluminum alloy frame is ready to take on any competitor including the Tesla Model 3 commuter car and the new electric Chevy Bolt, which are both scheduled to make their market entry in 2017. According to Wall Street, the electric commuter market is developing to be a major potential target which is being addressed by several automobile companies.
"Due to the e-Go's advanced lightweight materials and design, the e-Go is at least 1000 lbs lighter than any of its competitors. Presently, no one can match the e-Go's efficiency especially under urban driving conditions."
In an article in USA Today by Nathan Bomey (titled "Elon Musk: Tesla to accept orders on new Model 3 car")(http://www.usatoday.com/story/money/cars/2016/02/11/elon-musk-tesla-motors/80222610/) the author states, "Tesla is expected to preview the Model 3 in an event March 31, although it's not clear whether the company will reveal the entire vehicle. Anyone who pre-orders must place a $1,000 deposit, Musk said on Twitter."
The USA Today article further states, "The company [Tesla Motors] has said the car would become available in late 2017, although analysts from Barclays and Morgan Stanley say mid- to late 2018 would be more realistic. The car has long been viewed as the defining product for Tesla - a turning point that will prove whether the company can design, engineer, manufacture and sell a mass-market, comparably affordable electric vehicle."
Michael Hu commented, "2050 Motors cannot allow Tesla to corner the commuter market in the same way they cornered the high-end market four years ago. Four years ago, Tesla had no competition and very few other automobile companies were interested in investing in such a small segment of the consumer market. However, they are now entering into a commuter market where it will receive significant competition.
"The e-Go manufacturing plant is complete and ready to begin production and, we believe, we can compete not only with the Tesla Model 3 but also with any of the other affordable electric commuter vehicles competing in the US market. 2050 Motors will take initial pre-order deposits from March 17th at midnight through March 31st. The company will offer significant incentives for those who pre-order the e-Go including receiving the opportunity to be awarded free e-Go automobiles. This is especially true for those who place deposits on the first 25 e-Go vehicles. They will have the right to trade in their e-Go for the Ibis four door carbon fiber luxury sedan if and when it becomes available to the US market and receive the full purchase price of the e-Go against the price of the Ibis."
Interested buyers can fill out a form online at http://www.2050motors.com/pre-order/pre-order-form.html and have 10 days to fulfill the deposit after March 31st. Other details for making the $1000 deposit are on our website. People who are interested in this opportunity should read the pre-order terms carefully and be ready to fill out the online form starting on midnight March 17th.
Mr. Hu concluded, "2050 Motors has maintained a very low profile during the six years of development of the all carbon fiber bodied electric vehicles - the e-Go and the Ibis - until they were unveiled on February 12th at a grand opening in Las Vegas, which received much media attention.
"It's not 2050 Motors' intention to competitively out sell the e-Go against the Model 3 from Tesla or the Chevy Bolt because of their already existing name recognition. However, it's also true that 2050 Motors does not need to sell a significant number of vehicles for the company to become profitable. Large automobile companies have to recapture hundreds of millions of dollars that they have invested in the creation of their vehicle and they also have to cope with huge overheads. This is not true for 2050 Motors, we have virtually zero liabilities and even if we capture a very small percentage of the marketplace we can turn significant profits even from the initial sales of our vehicles."
The Las Vegas Review Journal article titled, "A Second Electric Car Company Is Planning To Build A Manufacturing Plant In Southern Nevada" (http://www.reviewjournal.com/business/second-electric-car-company-plans-manufacturing-plant-southern-nevada), correctly stated that 2050 Motors has completed all the milestones required by an automobile company to begin sales in the marketplace, including the ability to produce their vehicles on a mass scale. The only item left for the e-Go is to pass US crash testing standards. However, the e-Go has already passed crash test safety requirements according to European, Japanese and Chinese standards.
About 2050 Motors, Inc.
2050 Motors, Inc. (http://www.2050motors.com and http://www.etfm.com), is a publicly traded company incorporated in Nevada in 2012. 2050 Motors was founded to develop and produce the next generation of clean, lightweight, efficient vehicles and its associated technologies. Some of these technologies include alternative renewable fuels, hybrid electric vehicles, advanced graphene lithium batteries and carbon fiber low cost vehicles. 2050 Motors has been successful in forming long term relationships and exclusive contracts for a variety of game changing technologies. 2050 Motors entered into an agreement with Jiangsu Aoxin New Energy Automobile Co., Ltd., located in Jiangsu, China, for the distribution in the United States of a new electric automobile, known as the e-Go EV (electric vehicle). The e-Go EV is a revolutionary new concept in the ever evolving world of electric vehicles. It will be the only production line electric car with a carbon fiber body and parts manufactured by a new process using robotic machines which significantly reduces the fabrication time and cost of carbon fiber components. The e-Go EV will seat four passengers, have a long battery life, and high energy efficiency rating up to 150+ MPG-E energy equivalent in urban driving due to the light weight of the vehicle. The five passenger carbon fiber luxury sedan Ibis EV, the e-Go's big brother, will also be showcased along with the e-Go EV for future sales in the United States. See videos of completion of the e-Go EV manufacturing plant at https://www.youtube.com/watch?v=wih8_xxZNgA and the unveiling of the e-Go EV at the 2014 Shanghai Auto Show http://www.2050motors.com/shanghaishow.html. The company is fully reporting under the SEC EDGAR system.
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.
VP North American Operations
2050 Motors, Inc.
Benchmark Advisory Partners LLC
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