OTC Markets Approves VAPR E-Cite Motors Change of Control Application Following Recent Acquisitions

Rhea-AI Summary

VaporBrands International, Inc. (OTC PINK:VAPR), now operating as E-Cite Motors, has received approval from OTC Markets for its change of control application. This allows E-Cite to disclose current information and financials to investors via the OTCIQ portal. The company plans to apply for a new name and ticker symbol.

E-Cite aims to launch its first production vehicles for the 2023 model year, underpinned by the Low Volume Vehicle Manufacturers Act of 2015. Their modular design will enable a range of vehicle configurations, enhancing production flexibility.

Positive

• Change of control application approved, enhancing transparency for investors.
• First production vehicles expected for the 2023 model year, significantly faster than traditional timelines.
• Utilization of the Low Volume Vehicle Manufacturers Act allows for reduced certification costs.
• Innovative modular vehicle design promotes production versatility and performance scalability.

Negative

• None.

BOTHELL, WA / ACCESSWIRE / March 29, 2022 / VaporBrands International, Inc. (OTC PINK:VAPR) dba E-Cite Motors www.ecitemotors.com an innovative Electric Vehicle manufacturer announced that OTC Markets www.otcmarkets.com has approved VAPR E-Cite's change of control application.

Now that the Change of Control has been approved E-Cite will be able to post current disclosures, company information, and financials via the OTCIQ portal providing accurate and transparent information to investors.

Additionally, E-Cite intends to apply for a name change and a new ticker symbol that more accurately represents the nature of the business in the near future. In the meantime, investors can buy or sell the stock via virtually any broker or online trading platform such as E-trade under the symbol VAPR.

E-Cite has several key advantages over other auto manufacturers. Unlike competitors Tesla, Nikola, Polestar, Lucid, VW, Ford, Jaguar, and others, E-cite is not required to meet any of the safety or other costly certifications of a traditional auto manufacturer making the ease and timeline of offering new vehicles to market significantly more favorable. Whereas the initial timeline to be able to deliver a production vehicle to market generally exceeds 3 years and often longer at a very high cost, E-Cite expects to be delivering its first production vehicles for the 2023 model year. That is less than 12 months from inception to the showroom.

This is possible because E-Cites vehicles qualify under the "Low Volume Vehicle Manufacturers Act of 2015" In 2015 Congress enacted a bill into law directing the NHSTA to establish a program allowing low volume motor vehicle manufacturers to produce a limited number of vehicles annually within a regulatory system that addresses the unique safety and financial issues associated with limited production, and to direct the EPA to allow low volume motor vehicle manufacturers to install engines from vehicles that have been issued certificates of conformity. Although they were given one year to establish this new program it took until January 2021 until the NHSTA issued a final ruling to allow low volume vehicle manufacturing. Under the act car manufacturers that meet the criteria are exempt from all the safety standards but they must meet current emissions standards. There are no emissions standards for EV vehicles.

E-Cite Motors vehicles will utilize a modular design engineered to allow the production of vehicles utilizing a skateboard style chassis that uses hub electric motors. As the system is fully modular this allows for configurations ranging from low powered batteries and only a single 100hp motor on up to a high powered 1000hp performance vehicle utilizing AWD and 4 250hp motors or beyond.

Using this modular design allows for entry level vehicles that are fully upgradable, that can be fitted with a variety of bodies ranging from fun affordable sportscars, utilitarian vehicles, made from inexpensive fiberglass all the way beyond the performance achieved by today's petrol supercars using state of the art carbon fiber.

About VaporBrands International, dba E-Cite Motors.: www.ecitemotors.com (OTC PINK:VAPR) is a publicly traded company based in Bothell that is developing for manufacturing, state of the art electric vehicles utilizing the latest in technologies with a flare of some of the iconic autos of the past. VAPR recently acquired 100% ownership in E-Cite Motors, Acclaimed Automotive www.acclaimedauto.com, and N2A Motors www.n2amotors.com a California-based custom auto manufacturer and car factory specializing in designing, engineering and building prototype, concept, and limited production vehicles for OEMs, corporations, movies, and private owners. N2A was led by legendary designer Gene Langmesser who now serves as the COO of the combined operations.

CONTACT:
VaporBrands International, Inc. dba E-Cite Motors
ceo@vaporbrands.com
www.ecitemotors.com

SOURCE: VaporBrands International, Inc.

View source version on accesswire.com:
https://www.accesswire.com/695031/OTC-Markets-Approves-VAPR-E-Cite-Motors-Change-of-Control-Application-Following-Recent-Acquisitions

FAQ

What does the change of control approval for VAPR entail?

The approval allows E-Cite Motors to disclose current financials and company information through the OTCIQ portal, improving transparency for investors.

When does E-Cite Motors plan to launch its production vehicles?

E-Cite Motors expects to launch its first production vehicles for the 2023 model year, less than a year from inception.

How does the Low Volume Vehicle Manufacturers Act affect E-Cite Motors?

The Act allows E-Cite to avoid certain costly safety certifications, expediting their vehicle production timeline.

What are the advantages of E-Cite Motors' modular vehicle design?

The modular design allows for a variety of vehicle configurations and upgrades, enhancing production flexibility and accommodating different performance levels.

Will VAPR change its ticker symbol?

Yes, E-Cite Motors intends to apply for a new ticker symbol that better represents its business.