2050 Motors Inc. (ETFM)
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.
2050 Motors, Inc., is a development stage public company formed to import, market, and sell electric cars
manufactured in China. 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.
Most recent filing:
2050 MOTORS, INC.
FORM 10-Q (Quarterly Report)
Filed 11/16/15 for the Period Ending 09/30/15 : http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=11012670
Address 3420 BUNKERHILL DRIVE
LAS VEGAS, NV 89032
LAS VEGAS, Feb. 12, 2016 (GLOBE NEWSWIRE) -- via PRWEB - Michael Hu, President of 2050 Motors, Inc.
(ETFM), announced today that the first all carbon fiber electric vehicle (the e-Go EV) has commenced crash
testing in China and has successfully passed the frontal crash test with amazing results.
The crash tests are being conducted according to European, Japanese and Chinese crash test standards. A
GIF file of the actual moving sequence of an e-Go car in a frontal crash test at 35 miles per hour in slow
motion reveals that the vehicle substantially returned to its original shape after the test. A photograph of the
front of the vehicle shows minimal damage after the test. The amazing sequence can be viewed at
http://www.2050motors.com/cars.html A more complete report on the crash tests will be announced in a
separate press release.
Mr. Hu commented on the results, "This means that the carbon fiber body absorbed the full force of the collision and
returned to its original shape. I believe that no other automobile for the consumer market has ever displayed such a
frontal crash resilience and shock absorbance of energy."
Mr. Hu further stated, "In 2015, the e-Go was re-engineered through extensive state-of-the-art computer crash test
analysis. Then, 22 demo e-Go vehicles were delivered to the Chinese government for months of testing to obtain the
production and export permits for the Yancheng automobile plant."
Later this year, 2050 Motors will proceed with the US DOT (Department of Transportation) crash test program for the
e-Go before it can be sold in the United States.
2050 Motors will initially sell and distribute the e-Go built from the Yancheng plant in China and then later start
assembly of the e-Go in Las Vegas, Nevada. The construction plans for the 2050 Motors assembly facility in the United
States have been progressing for many months and will create numerous high paying jobs. Please see the press
release dated January 20, 2016 titled "2050 Motors, Inc. Announces Launch of New Corporate Website Including Job
Creation Plans" for further info.
In 2012 and 2013, the Company made a total payment of $50,000 and signed an exclusive license agreement
with Aoxin to import, assemble and manufacture the advanced carbon fiber electric vehicle, the e-Go EV
model. The cost of this license agreement has been recognized as a long-term asset and is evaluated, by
management, for impairment losses at each reporting period.
COMMITMENTS AND CONTINGENCIES
In November 2013, the Company signed a new facility lease. The monthly lease amount is $2,400. The lease term
commenced on December 15, 2013 and will expire on December 31, 2015.
Effective September 16, 2015, the Company renewed its residential lease agreement in California for its traveling
consultants. Effective September 2015, the Company extended the lease agreement for one more year with a new
monthly amount of $2,300. The lease expires on September 15, 2016.
Effective March 1, 2014, the Company signed a four thousand square feet of industrial space in North Las Vegas. The
term of the lease is for three years and cost $2,200 per month.
Rent expense was $21,807 and $66,920 for the three and nine months ended September 30, 2015. Rent expense was
$19,500 and $51,900 for the three and nine months ended September 30, 2014.
According to the license agreement signed between the Company and Aoxin, in order to maintain exclusive rights for
the United States (US), the Company is required to purchase and sell certain amount of e-Go EV model vehicles per
year for a certain period of time starting from the completion of the requirements established by the United States
Department of Transportation’s protocols for the e-Go EV model.
The table below demonstrates the required amount of vehicles that the company needs to sell per year.
First year 2,000
Second year 6,000
Third year 12,000
Fourth year 24,000
Fifth year 48,000
5 Year Total 92,000
As part of the license agreement, the Company is committed to pay expenses related to any required
airbag testing procedures. The cost of these airbags could be as little as $500,000 or as much as $2
2050 Motors has purchased three prototype test models for delivery into the United States. One will
undergo an advanced crash test known in the Automobile Safety Industry as the “overlap crash test”
designed by the Insurance Institute for Highway Safety. The other two will be used for marketing and
sales purposes. Actual production line models are not expected to be deliverable until year 2016.
2050 Motors, Inc. announces the arrival of the first e-Go EV car.
The Ibis electric luxury sedan will arrive soon afterward and both
vehicles will be showcased in Las Vegas with impressive
Contender to Tesla's Model S
The "e-Go" EV
Just passed frontal crash testing in China!
The e-GO EV Carbon Fiber Electric Vehicle Safety Standards of Carbon Fiber Electric Vehicle
Follow Link to video's of the e-Go and crash test:
Why buy the E-Go EV?
- Most Efficient Production Car Ever Built
Range of 200 Miles or More
30 Minutes for Half Full Battery Charge, 4 to 8 Hours for Full Battery Charge Depending on System
150 Miles per Gallon Energy Equivalent
Only Carbon Composite Fiber Production Vehicle Ever Built at Affordable Prices
Carbon Fiber Body is Five Times Stronger than and One Third the Weight of Steel
1400 lbs. Total Weight is Less Than Half of Comparable Vehicles
Seating for Five Passengers
High Energy Lithium Battery Pack with Over Three Times the Life of Any Other in its Class
Most Affordable Car to Operate: No Tune Ups, Smog Checks or Oil Changes
Race Car Suspension Handling and Regenerative Brakes
Complimentary Roadside Service
Advanced Navigation System
"A Renew Earth Vehicle"