Leo Motors Agrees to Co-develop E-Scooters in Brazil
LAS VEGAS -- Leo Motors, Inc. (OTC Markets: LEOM) has reached an agreement to develop electric scooters for DAFRA Motos, one of the largest motorcycle companies in Brazil. Under the agreement, Leo will develop electric scooters using DAFRA’s internal combustion engine (ICE) scooter branded as “Smart 125.” DAFRA will pay for the development costs and provide bodies of Smart 125 scooters to Leo.
After development and proper tests, Leo will supply power trains and engineering services to DAFRA, and DAFRA will assemble the scooters using Leo’s power trains and chassis manufactured by DAFRA in Brazil. DAFRA intends to sell the electric scooters at its own brand’s 300 sales outlets. DAFRA is the third largest motorcycle brand in Brazil with approximately 200,000 motorcycles sold each year. For more information on DAFRA, visit its website at www.daframotos.com.
About Leo Motors
Leo Motors, Inc. is a US public company based outside of Seoul, Korea, engaged in the development, manufacture and sale of Electric Vehicle (EV) power trains and components. Leo has developed many original EV power trains and has converted many models of existing internal combustion engine (ICE) vehicles into EVs, including scooters, motorcycles, highway speed sedans, buses and trucks. Leo Motors has also developed a Zinc Air Fuel Cell Generator (ZAFCG) which is designed to free EVs from range limitations with zero emissions.
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