Leo Motors Launches Line of Electric Vehicles & Boats Using “Swappable” Batteries

SEOUL, SOUTH KOREA / ACCESSWIRE / November 30, 2015 / Leo Motors Inc. (OTCQB: LEOM) LEO unveiled five new electric vehicles: an electric cargo one-seater car, a delivery truck, a garbage truck, and two electric fishing boats (1.15 ton, 80 hp. and 1.85 ton, 20 hp.) at a product launch event in Busan, Korea. Busan is the largest marine city in Korea. 

Dr. Shi Chul Kang, CEO of Leo Motors said, “‘Batteries Not Included,’ is our motto. Our customers do not need to purchase expensive batteries when buying Leo electric cars and boats. Instead, they rent charged batteries from our Battery Swap Centers. Our battery rental program lowers the financial burden of buying an electric vehicle. By eliminating the battery cost, Leo’s electric vehicles are less expensive than their Internal Combustion Engine (ICE) counterparts.”

The new 100% electric LEOM vehicles include:

E-Dot, a 100% electric cargo one-seater with a cargo space of 7 cubic feet. Its maximum weight capacity is 220 pounds and the cargo space can be replaced with a second passenger seat.

LC-1, a light delivery truck with low decks and wide ramps for easy loading, and a maximum carrying capacity of 1,100 pounds, making it ideal for small deliveries. Its sister model LC-2 has an 1,100 pound capacity garbage collection container. 

Conventional delivery or garbage trucks drive for an average of 18 hours daily. This is a concern in considering an electric truck because of charging time. However Leo’s trucks utilize our patented battery replacement system therefore eliminating charging down-time. Leo’s new vehicle lines do not include batteries. Instead their drivers simply rent charged batteries from Leo’s innovative battery swap stations.

Batteries at Leo’s battery swap stations are owned by the station operators and rented to the electric vehicle owners. This not only significantly reduces the price of the vehicle but also eliminates concerns about battery life span.

Battery swap is not a new concept. ‘Better Place’ and ‘Tesla’ were each unable to bring such concepts to fruition. The reality is that an owner of a costly car like Model S (Tesla) would not swap his expensive, new battery for something pre-owned. Batteries comprise the biggest portion of the price of electric vehicles and once a driver-owned battery swap is made, the resale value of the car changes dramatically. 

Another challenge of prior battery swap methods is that such stations were s extremely expensive. Swapping a battery power pack weighing more than 1,000 lbs. is not an easy task and requires an extravagant facility. Leo’s solution for this dilemma is our proprietary CB (Cartridge Battery) technology. Leo’s CB splits the battery into smaller, lightweight cartridges that are designed for quick and easy handling. 

When CB works in harmony with Leo’s newly innovated Battery Swapping Machines, the time required is equivalent to fueling gas vehicles of equivalent size. Leo’s battery swapping machines are carts which replace battery cartridges eliminating the need for expensive large robot arms to handle massive battery packs. Using this shopping cart sized device, a typical 20 cartridge replacement takes 5 minutes. 

A bonus feature is that Leo’s battery power packs are connected through a mobile network via the driver’s smart phone. Once the driver gets into the car, his or her smart phone automatically syncs with Leo’s OS. Using an IoT (Internet of Things) platform, the driver can monitor battery life, receive replacement alert service (automatically sent when the battery is running low) and information on nearest swap station. Leo’s platform also provides cloud based electric power management data and condition of electric power train monitoring services as well as EV fleet management services, roadside emergency battery charging or swap services, and self-certification services of chargers. If battery life is insufficient to reach a swap center, it transmits the emergency battery swap truck to swap the battery at roadside.

Regarding the rental cost, Dr. Kang added, “The rental price of charged batteries will vary based on the local electricity rates and subsidies given to the electric vehicles. In Korea, the government subsidizes up to 50% of the costs for purchasing electric cars or boats. The rental price is estimated to be less than price of gas.”

In the launching event, Leo also demonstrated its electric shock prevention and electromagnetic radiation prevention technologies. The growing demand for electric and hybrid electric vehicles is creating a proliferation of batteries in excess of 300 Volts. Users of such cars are exposed to the potential of fatal electric shock accidents. E-boat power systems have traditionally presented electric shock hazards because of the proximity of water. LEO’s new technologies eliminate such dangers. This new technology makes LEOM to be the first company in the world offering water friendly electric cars and boats.

Some hybrid and electric cars may be carcinogenic based on emission of extremely low frequency, electromagnetic radiation (EMR), or magnetic fields. Existing EV’s have attempted to block EMR using shields on battery power packs, controllers, and the motor. But they cannot prevent EMR from wires connecting major components of an EV. Sometimes enormous EMR (like micro wave oven) is emitted when accelerating the EV. Leo uses proprietary EMR elimination circuits in each power source, thus no EMR is detected in all driving modes of Leo vehicles.

This press release includes “forward-looking statements” 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 “believes,” “belief,” “expects,” “intends,” “anticipates,” “will,” or “plans” 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 company’s reports and registration statements filed with the Securities and Exchange Commission.

For more information please call

Princeton Research, Inc
Mike King 702 650 3000

SOURCE: Leo Motors

ReleaseID: 434173