×

2050 Motors Announces Grand Opening of Carbon Fiber Electric Automobile Plant

LAS VEGAS, Feb. 24, 2015 (GLOBE NEWSWIRE) -- Michael Hu, President of 2050 Motors, Inc. (OTCQB:ETFM), announced today that China's major television network (CCTV), eight newspapers and China's Internet media outlets covered the Grand Opening Event of the e-Go's EV (electric vehicle) carbon-fiber robotic manufacturing facility in Yancheng, China.

2050 Motors, headquartered in Las Vegas, Nevada, has the exclusive rights from Jiangsu Aoxin New Energy Automobile Co., Ltd., a Chinese state owned company to distribute, assemble and manufacture the all-carbon fiber aluminum chassis electric vehicle called the e-Go EV in the United States and key markets of South America.

The Chinese media stated (translation), "Aoxin carbon fiber new energy car (technology) created three China firsts: China's first 20,000 units (annually) Carbon-Fiber Electric-Car manufacturing plant; China's first electric car aluminum chassis robotic welding production line; China's First High-Temperature, High-Pressure, Vacuum-Assisted Carbon-Fiber molding production line.

The media also stated, "the carbon fiber new energy car (technology) has obtained more than 20 China's (State Intellectual Property Office) patents, among them there are 11 invention patents. There are also more than 20 patents in the application process."

2050 Motors representatives, who were in China, were featured at the event. President Hu stated, "Amazingly, the 200,000 sq ft (4.5 acre) automobile plant was constructed from groundbreaking in September of 2014 to the Grand Opening on January 20, 2015, which totals only 120 days!" The sequential construction to the Grand Opening of the manufacturing plant can be viewed on 2050 Motors' YouTube channel or click here: http://youtu.be/wih8_xxZNgA

The e-Go EV, with its advanced design, engineering and lightweight construction materials, weighs about half the weight of any of its electric car competitors, including the lightweight fiber body BMW i3 and one third the weight of the Tesla Model S electric vehicle. The e-Go's weight advantage, due also to its advanced lithium battery pack, will make it one of the most efficient vehicles ever built at affordable prices for the mass consumer market in the $30,000 to $40,000 range depending on options and before state and federal rebates and tax incentives.

Aoxin New Energy Automobile is also constructing an even larger carbon fiber aluminum chassis manufacturing plant to produce 100,000 cars per year for the e-Go's big brother called the Ibis EV. The Ibis is a luxury full size touring sedan designed by European engineers (see 2050motors.com for more details).

Demonstration autos and crash test vehicles should arrive to the USA from the new plant the second quarter and third quarter of 2015, respectively.

Mr. Hu further stated, "Carbon-fiber is several times stronger than steel and one third of the weight of steel. Therefore, experts predict carbon-fiber and high-strength aluminum alloys are the materials of choice for the future of the automobile industry.

2050 Motors' e-Go EV will have little competition in its price range due to these advanced materials, will produce vehicles that are very lightweight, extremely energy efficient, durable and safe, with the best all-around value proposition for car buyers worldwide."

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 import, market, and sell electric and gas powered carbon fiber vehicles engineered and designed in Italy and China. 2050 Motors also has the rights to assemble these vehicles in the United States as a future enterprise. 2050 Motors has 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 five 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 company is fully reporting under the SEC EDGAR system.

Disclosure Statement

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.

CONTACT: George Hedrick 2050 Motors, Inc. Tel. (702) 591-6029Source:2050 Motors, Inc.