SEOUL, SOUTH KOREA / ACCESSWIRE / September 14, 2015 / Leo Motors Inc. (OTCQB: LEOM) entered into a Memorandum of Understanding ("MOU") with the BRUNEI DARUSSALAM BIMP-EAGA BUSINESS COUNCIL (BDBEBC) to jointly establish Electric Vehicle (EV) and Electric Boat (EB) consignment businesses in BIMP-EAGA (Brunei, Indonesia, Malaysia and Philippines-East ASEAN Growth Area).
The MOU ceremony included Mr. Pg Yura Kesteria PSN pg Yusuf, chairman of BIMP-EAGA BEBC (Brunei, Indonesia, Malaysia and Philippines-East ASEAN Growth Area BIMP EAGA Business Council) (www.bimp-eaga.org) taking a demonstration ride in Leo's Electric Fishing Boat at the Gyung In Ara Water Way in Korea.
Dr. Shi Chul Kang, Chairman and Chief Executive Officer of Leo commented, "Our new battery grid system will create broad market penetration of LEO's EVs and EBs throughout the Brunei, Indonesia, Malaysia and Philippines-East ASEAN Growth Area largely because our system will reduce prices of new cars and also reduce operating costs of existing EVs while facilitating a cleaner environment. We designed a consumer financial plan to accommodate potential low budget buyers in EAGA countries." Dr. Kang also added, "Our successful launch in the EAGA countries will make us the largest EV manufacturer in the world. In addition to our Korean operations we have initiated a joint venture factory project to manufacture and market LEO EV's in North East China."
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," "will," or "plans" to be uncertain and forward looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and registration statements filed with the Securities and Exchange Commission.
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SOURCE: Leo Motors Inc.
