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2050 Motors, Inc. (ETFM)

2050 Motors, Inc. established to develop and produce the next generation of clean, lightweight, efficient vehicles and its associated technologies. Some of the technologies include alternative renewable fuels, hybrid electric vehicles, advanced graphene lithium batteries, and carbon fiber low cost vehicles. Incorporated in 2012, 2050 Motors is based in North Las Vegas, Nevada. The company's shares trade on the OTC Markets Group's OTCQB.

The company has been successful in establishing long term relationships and exclusive contracts for an array of game changing technologies. It entered into an agreement with Jiangsu Aoxin New Energy Automobile Co., Ltd., in Jiangsu, China. This agreement is for the distribution in the United States of a new electric automobile, called the e-Go EV (electric vehicle).

The e-Go EV is a pioneering new concept in the developing world of electric vehicles. It will be the only production line electric car with a carbon fiber body and parts manufactured by a new process using robotic machines, which considerably reduces the fabrication time and cost of carbon fiber components.

The e-Go EV will seat four passengers, have a long battery life, and high energy efficiency rating up to 150+ MPG-E energy equivalent in urban driving because of the light weight of the vehicle. The five passenger carbon fiber luxury sedan Ibis EV is the e-Go's big brother. It will also be showcased along with the e-Go EV for future sales in the U.S.

In June 2016, Mr. Michael Hu, President of 2050 Motors, announced that the company secured a $10 million equity purchase agreement specifically to construct a carbon fiber electric car assembly facility in Las Vegas. After negotiations with Southridge Partners II, LP, the parties agreed to a final contract to secure the $10 million equity purchase agreement. Southridge Partners is a diversified financial holding company. Southridge specializes in direct investment and advisory services to small and middle market companies.




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