Korean investors sign contract to produce e-vehicles in Puerto Princesa
PUERTO PRINCESA CITY, Oct. 23 (PNA) -- Leo Motors Inc. of South Korea signed early this week a major contract with the city government of Puerto Princesa to form a company that will produce electric vehicles to be sold in this city and throughout Asia.

In a report, the company said agreement includes minimum numbers of vehicles to be produced, as well as monetary contributions of up to US$ 5 million by the government of the Philippines.
The city government agreed to form a joint company to set up an assembly plant to supply electric taxis and help manage the program financially.

Leo Motors will supply knock down parts and batteries for minimum 2,500 electric taxis to the joint company.

Elated with the signing of the contract, Mayor Edward Hagedorn noted that this will help boost the city's economy and also provide job opportunities to the city residents.

Hagedorn welcomed the investment because it supports his environmental advocacy campaign.

Hagedorn promotes the production of electric tricycles and taxis in answer to the escalating prices of gas and to hasten their shift to renewable sources of energy.

Dr. Lee Jong Yong, chief engineer of Leo Motors, reiterated the assurance that the electric-powered tricycles they will manufacture in Puerto Princesa will be environment-friendly, economical and durable.

Leo Motors specializes in electrical technologies, engineered to inspire and influence a clean, green, zero-emission approach to transportation in line with Hagedorn's desire to manufacture electric transportation in this city.

The company introduced here the electric scooter model "Leo 1000" which has all requirements of the performance standards test used by the Ministry of Environment of Korea.

The Leo 1000 is equipped with a lithium polymer battery that can run 100 kilometers (a little over 62 miles) on a home plug-in charge.

In Korea, the public procurement service plans to continue the purchase of electric scooters from Leo Motors as substitute for existing gas scooters in their efforts to support an emission-free and lower-noise environment.

The gas scooters widely used for deliveries throughout South Korea were criticized by the public for their noise in the night and contribution to the Korean peninsula's serious air pollution issues.

Leo Motors electric scooters are priced at about US$ 3,200 each - including US$ 1,000 government subsidy. Government offices have already purchased over 500 electric scooters so far in their transportation reform.

They are continually brought into service as replacements for gas scooters.

It is estimated that this effort will help reduce carbon monoxide (CO) by eight percent and hydrocarbon (HC) by 7.4 percent of total vehicle pollution sources. (PNA)