|By PR Newswire||
|February 18, 2014 08:15 AM EST||
CORONA, Calif., Feb. 18, 2014 /PRNewswire/ -- Saleen Automotive, Inc. (OTCQB: SLNN), (OTCBB: SLNN) (the "Company"), an American specialty manufacturer of high performance vehicles, technical performance parts, lifestyle accessories and apparel, is pleased to announce that the Company has added legendary electric car developers, AC Propulsion, to its design team for the new Saleen Electric vehicle. AC Propulsion will provide the technology and implementation of the powertrain and battery for the project.
AC Propulsion specializes in alternating current-based drivetrain systems for electric vehicles. The company produces electric vehicle drive systems featuring high performance, high efficiency induction motors and integrated high power battery charging. The Company is well-known for providing its proprietary technology to the Tesla Roadster, which was developed by Tesla Motors to mass-produce AC Propulsion's tzero concept car. AC Propulsion also provided drivetrains and support for the BMW all-electric Mini E.
"We are assembling a team and vehicle that combines the finest technology and design available," stated Steve Saleen, CEO, Saleen Automotive. "AC Propulsion is a proven leader and seminal thinker in electric car creation and we believe will greatly assist us in introducing a revolutionary vehicle to the market. I believe we have secured the very best partner possible for our powertrain and battery."
"AC Propulsion is excited to partner with automotive legend Steve Saleen for his new electric vehicle project," stated Paul Carosa, President, AC Propulsion. "Mr. Saleen is on the verge of creating a vehicle unlike any on the market today, a tremendous new entry in the fast growing electric car market that lives up to the Saleen name and reputation. We'll do our part to make it even better."
For more information and updates visit the following online locations:
Company website: www.saleenautomotive.com.
About AC Propulsion
AC Propulsion is a global leader in the development, design and manufacture of electric vehicle components. Proprietary tzero™ technology is a complete drivetrain solution that can be customized for many classes of pure EVs and Plug-in Hybrids. AC Propulsion is also a leader in the development of Vehicle to Grid (V2G) capable vehicles. The company is located in San Dimas, California where it has its headquarters, engineering center and pilot production facility. Its partner company e.Motor Advance, located in Beijing, China carries out International marketing and has a new factory under construction for volume production of electric drive components.
About Saleen Automotive, Inc.
Saleen is an American specialty manufacturer of high performance vehicles, technical performance parts, lifestyle accessories and apparel. Founder Steve Saleen has continually set the bar for automotive design and performance engineering in both street and racing applications. Saleen plans to utilize its existing strategic partnerships and dealer network to refine its design and engineering prowess, continue development of emerging automotive technologies, and expand its presence nationwide with a combination of automotive retail services, aftermarket parts and new vehicle sales to build significant long-term value. Learn more at www.saleenautomotive.com.
Information about Forward-Looking Statements
This press release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company's products, the introduction of new products, the Company's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company's liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in the Company's filings with the United States Securities and Exchange Commission. An example of such forward looking statements in this press release include statements regarding the Company developing and completing successful new car projects. For a more detailed description of the risk factors and uncertainties affecting Saleen Automotive, please refer to the Company's recent Securities and Exchange Commission filings, which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Saleen Automotive, Inc.
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