Leo Motors Inc. (fka LEOM)

[undtrdr]

News never shows up on Ihub here was another PR out November 23, 2015

Leo Motors to Supply Its "Battery Swap System" In Electric Go Karts



SEOUL, SOUTH KOREA / ACCESSWIRE / November 23, 2015 / Leo Motors Inc. (OTCQB: LEOM) entered into a Memorandum of Understanding ("MOU") with the BRUNEI DARUSSALAM BIMP-EAGA BUSINESS COUNCIL (BDBEBC) to set up a GLOBAL Electric Go Kart (EGK) joint venture.

Image: https://www.accesswire.com/uploads/leom%2011-23%201.jpg

EGK's initial indoor Go Kart track installations will be in Brunei and on Jeju Island in Korea. Go Kart is one of most popular motor sports in Brunei where the venture is building the world's largest indoor Go Kart track of approximately 4 acres.

Leo will supply newly developed Go Kart using its proprietary cartridge battery swap system. Instead of the standard sidelining of the Go Kart for recharging, Leo's Go Karts swap a depleted battery for a fully charged one within seconds. Batteries are pre-charged in the charging center, eliminating the need for players to wait for charging.

Dr. Kang, CEO of Leo Motors said, "Because our Go Karts use electric motors without suffocating fumes or deafening noise, they are perfect for indoor use." He added, "Using our patented cartridge battery system, we eliminate all problems related to battery charging. This will revolutionize the electric Go Kart industry,"

Leo Motors and BDBEBC are also working together to convert all water boat taxis into electric boat taxies in the world's largest water village in Brunei. The new electric water taxies will be connected through the cloud server and smart phones. The battery condition and taxi locations are continuously monitored by the cloud computer. The battery logistics are to be governed by artificial intelligence. And electric water taxies can be called and automatically paid in the same manner of Uber.

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.
http://www.baystreet.ca/quotedata/news-article.aspx