Xethanol Invests in Carbon Motors Corp.
Oak Ridge to Lead Auto Supplier R&D Partnership

Leo Motors and Global Electric Motors Car Asia Co. to Enter JV for EVs in Thailand

Leo Motors, Inc., based in Seoul, Korea, has entered into a Memorandum of Understanding (MoU) with Global Electric Motors Car Asia Co., Ltd., based in Thailand. The terms of the MoU include entering into a joint venture for the development of new electric vehicles, undertaking their production, commencing sales to Thailand, and initiating sales to neighboring countries.

The first project is a 3-wheel electric motorcycle for the Thai Police Department. The first prototype is to be ready by next month. In addition to fleet sales, Leo Motors estimates that a minimum of 500 units will be sold during the year.

Leo Motors will provide assistance to GEMA in the construction of the electric vehicles, and will provide production and development expertise. GEMA will establish the joint venture company that will manage the project, maintain exclusive rights to selling the vehicles in Thailand, and provide Leo with another global sourcing base. Both will work to export the products and expand the profitability of the joint venture.

Leo Motors, Inc. has developed a line of seven different EVs in the last two years. Global Electric Motors Car Asia Co., Ltd. is the largest electric car dealer in Thailand, and an associate company of the Siam Steel Service Center Public Company Limited.

Comments

Gerry  Caroro

Congratulations for both GEMA and Leo Motors,

"ride for Greener Cleaner-AiR future"

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Your Information

(Name is required. Email address will not be displayed with the comment.)