``First Asian Electric'' Gets OK for All Roads and Highways in China
12 February 2000
American Electric Automobile's ``First Asian Electric'' Receives Full Operationing License for All Roads and Highways in China
SAN DIEGO--American Electric Automobile Company Inc. announced on Friday 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) or EVASIA. EVASIA, which is 45% owned by the company, has all marketing rights outside China with the exclusive rights for North America 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 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 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.