VAPR Acquires E-Cite Motors an EV Auto Manufacturer with a Key Advantage over Others - New Corporate Direction

Rhea-AI Summary

VaporBrands International, Inc. (OTC PINK:VAPR) has acquired E-Cite Motors, a startup focused on electric vehicle manufacturing. This strategic shift will see VAPR discontinue its vape and CBD activities to focus entirely on E-Cite's offerings. Due to the Low Volume Vehicle Manufacturers Act of 2015, E-Cite can rapidly bring vehicles to market, expecting to deliver its first models in less than 12 months. With a modular design allowing for various configurations, E-Cite aims to produce a range of vehicles from affordable sports cars to high-performance models.

Positive

• Acquisition of E-Cite Motors positions VAPR in the electric vehicle market.
• Ability to deliver production vehicles within 12 months, leveraging favorable regulatory conditions.
• Modular design facilitates a range of vehicle types, promoting market adaptability and growth.

Negative

• None.

BOTHELL, WA / ACCESSWIRE / March 9, 2022 / VaporBrands International, Inc. (OTC PINK:VAPR) www.vaporbrandsint.com announced that it has acquired 100% of E-Cite Motors, L.L.C www.ecitemotors.com an innovative Electric Vehicle manufacturer startup.

VAPR will put all its efforts towards the E-Cite Motors activities and has ceased all Vape or CBD related activities in anticipation of this opportunity, continuing to develop E-Cites' unique offerings of complete turnkey road legal vehicles. VAPR intends to change its name to one more fitting to its new business after it has received shareholder and regulatory approval.

Unlike competitors Tesla, 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 the 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 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 has developed a modular design that will be 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 4 250hp motors.

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, and luxury offerings made from inexpensive fiberglass all the way beyond the performance achieved by today's petrol supercars using state of the art carbon fiber and lighter chassis.

About VaporBrands International, dba E-Cite Motors.: www.vaporbrandsint.comwww.ecitemotors.com (OTC PINK:VAPR) is a publicly traded company based 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.

CONTACT:

VaporBrands International, Inc.
ceo@vaporbrands.com
www.vaporbrandsint.com
www.ecitemotors.com

SOURCE: VaporBrands International, Inc.

View source version on accesswire.com:
https://www.accesswire.com/692156/VAPR-Acquires-E-Cite-Motors-an-EV-Auto-Manufacturer-with-a-Key-Advantage-over-Others--New-Corporate-Direction

FAQ

What acquisition did VAPR announce in March 2022?

VAPR announced the acquisition of E-Cite Motors, an electric vehicle manufacturer.

How does E-Cite Motors plan to compete in the electric vehicle market?

E-Cite plans to leverage the Low Volume Vehicle Manufacturers Act, allowing quicker market entry without the extensive safety certifications required by traditional manufacturers.

What is the expected timeline for E-Cite Motors to deliver its first vehicles?

E-Cite Motors expects to deliver its first production vehicles in time for the 2023 model year, less than 12 months post-acquisition.

What capabilities does E-Cite Motors' modular design provide?

The modular design allows for a range of vehicle configurations, from entry-level options to high-performance models.