We recognize that electric cars are a trend, not a fad and expect this vehicle category to continue to increase as an automotive option for consumers. We intend to enter this market with an offering that is truly innovative and offers the styling and craftsmanship associated with the Saleen Automotive brand. The rapid pace of advancements in electric vehicle technology makes our entry into this market sector timely and should expedite completion of this project.

—Steve Saleen, CEO, Saleen Automotive Inc.

Saleen Automotive will update the financial and automotive media in early 2014 with the public release of scale models of its new electric vehicle project.

In its most recent investor presentation, Saleen notes that the high performance and supercar market is growing and evolving rapidly, at a time when emission rules are tightening and new hybrid technologies are emerging.