SEOUL, SOUTH KOREA / ACCESSWIRE / October 21, 2015 / Leo Motors Inc. (LEOM) entered into a Memorandum of Understanding ("MOU") with the city of Puerto Princesa, to jointly establish citywide Electric Taxi (EV) businesses. The MOU is the first in conjunction with and arising from LEO's alliance with the BRUNEI DARUSSALAM BIMP-EAGA BUSINESS COUNCIL (BDBEBC).
Under the MOU, Leo Motors begins a project intended to retrofit over 4,000 Puerto Princesa internal combustion engine (ICE) tricycle taxies converting them into electric tricycle taxis. The MOU was signed at the city hall offices of Mr. Lucilo Bayron, the mayor of Puerto Princesa, along with other signatories, Mr. Pg Yura Kesteria PSN Pg Yusuf, chairman of BIMP-EAGA BEBC (Brunei, Indonesia, Malaysia and Philippines-East ASEAN Growth Area BIMP EAGA Business Council) (www.bimp-eaga.org), and Dr. Shi Chul Kang, CEO of Leo Motors
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