American Electric Automobile's ``First Asian Electric'' Receives Full Operationing License for All Roads and Highways in China.Business Editors SAN DIEGO--(BUSINESS WIRE)--Feb. 11, 2000 American Electric Automobile electric automobile Battery-powered motor vehicle. Originating in the 1880s, electric cars were used for private passenger, truck, and bus transportation in cities, where their low speeds and limited battery range were not drawbacks, and the cars became popular for their Company Inc. (Pink Sheet:AEAM AEAM Asociación de Estudios de Areas Marginales (Association of Studies of Marginal Areas, Guatemala) ) Friday announced that the auto the company produced in China has been licensed for use on all of its roads. The SUV style automobile was produced on a contract with Guangdong Vick Wei Electric Vehicle of Guangdong Provence. The agreement with Vick Wei calls for a joint venture to produce and market these automobiles. The automobile was developed by the company in a joint venture called America Electric Automobile (ASIA Asia (ā`zhə), the world's largest continent, 17,139,000 sq mi (44,390,000 sq km), with about 3.3 billion people, nearly three fifths of the world's total population. ) or EVASIA. EVASIA, which is 45% owned by the company, has all marketing rights outside China with the exclusive rights for North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. assigned to the company. This first model was tested in competition with other international automotive manufactures products at China's National EV testing Center in Shantou, China and was recently awarded its license. Presently, countries such as China have recognized the immediacy for Electric Vehicles by mandating the purchase of zero emission Zero emission refers to an engine, motor, or other energy source, that emits no waste products that pollutes the environment or disrupts the climate. Zero emission engines vehicles. China's new five year plan calls for one in every five (20%) vehicles produced in China to be an electric vehicle. American Electric Automobile Co. has developed a clear outline of the opportunities and strategies for capitalizing on the developing of zero emission and very low emission vehicles. The standard bodies with fully functioning air conditioning air conditioning, mechanical process for controlling the humidity, temperature, cleanliness, and circulation of air in buildings and rooms. Indoor air is conditioned and regulated to maintain the temperature-humidity ratio that is most comfortable and healthful. and heating and off-the-shelf electric motors are used in combination with a custom proprietary computerized electric drive controller. Models are economically priced in the $16,000 to $22,000 range. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for Forward-Looking Statements: Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted results. |
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