CORRECTED) Leo Motors Signs $30,000,000 Sales Contract
SEOUL, SOUTH KOREA / ACCESSWIRE / December 20, 2016 / Leo Motors Korea Inc., a subsidiary of Leo Motors Inc. (OTCQB: LEOM) signed a sales contract with Miho Story, Inc. for the manufacture of smart phone electric vending trucks. The initial order totals approximately thirty million dollars for 500 trucks. This will be followed in two years by the manufacture of 1,000 trucks for an additional sixty million dollars. The truck design and operation solutions were developed by Leo Motors Korea. (This "correction" retracts and replaces the earlier figures of $300 million and $600 million respectively due to scrivener's error.)
The vending trucks will be equipped with Leo Motors Korea's proprietary high efficient Energy Storage System (ESS) that interacts with the cloud server and the vehicle diagnosis system developed by Leo Artificial Intelligence Connected, Inc, another LEOM subsidiary. Additionally the ESS power source is "swappable" using Leo's patented cartridge battery system.
By using ESS, the trucks avoid using Internal Combustion Engines and their pollution while using electricity to market smart phones and their accessories on the street. Being connected to Leo's patented Multi Drive Recorder (MDR), allows vending truck operators to move in real time to high sales potential locations. Leo's connected car technology also provides anti-theft, on road battery swap, and real time maintenance services because Leo's MDR is continually scanning every component of the vending truck.
Dr. Kang, CEO of Leo Motors, Inc. said, "We are excited about this important contract in that it signals that Leo Motors Korea is becoming a profit generating company."
