VAPR E-Cite Motors Secures 2.2 Million Dollar Facility and Acquires Acclaimed Auto Repair Supporting its' EV Auto Manufacturer with a Big Advantage over Other Automobile Companies

Rhea-AI Summary

VaporBrands International, Inc. (OTC PINK:VAPR), under the name E-Cite Motors, announced a significant milestone by securing a $2.2 million facility and acquiring 100% of Acclaimed Auto Repair. The new 4,000 sq ft facility, located in Bothell, WA, enhances E-Cite's capabilities for R&D, prototyping, and vehicle assembly. This strategic acquisition positions E-Cite to expedite vehicle production under the Low Volume Vehicle Manufacturers Act of 2015, aiming to deliver its first production vehicles within 12 months.

Positive

• Acquisition of Acclaimed Auto expands operational capacity and repair service offerings.
• Facility expected to streamline design and production processes for electric vehicles.
• Exemption from traditional auto manufacturer certifications accelerates market entry.

Negative

• None.

BOTHELL, WA / ACCESSWIRE / March 10, 2022 / VaporBrands International, Inc. (OTC PINK:VAPR) dba E-Cite Motors www.ecitemotors.com an innovative Electric Vehicle manufacturer announced that it has secured a 2.2 million dollar facility and acquired 100% of Auto Rescue, Repair, Repair, and Restoration dba "Acclaimed Auto Repair" www.accliamedauto.com also referred to as "AAR".

The facility which E-Cite now occupies and has signed a structured purchase contract for is located at 15812 116^th Ave. N.E. Bothell, WA 98011. It is roughly a 4,000 sq ft commercial building that has been a successful auto repair shop under the previous owner for more than 20 years. It contains 4 bays with lifts (including a $30,000 laser alignment lift) a detail bay, office space, customer lobby, a break room/kitchenette, and 2 bathrooms. It also contains two outside paved areas that can be used as is or built on for expansion. Currently, joint use of the office, customer waiting room, and 3 of the bays are leased from E-Cite Motors to Acclaimed Auto. Also included is an upstairs unit that is a 1200 sq ft (approximately) open office with a kitchenette and 3^rd bathroom. It is isolated upstairs on its own floor with a separate entrance. The upstairs is leased from E-Cite to an unrelated party for a term of 10 years which increases 5% per year.

Acclaimed Auto has continued in the long-standing success set forth by its predecessor for more than two decades, and will continue to operate as it has been as an automotive repair and restoration shop generating revenues until E-Cite needs the space that it is operating in.

E-Cite previously owned 33.33% of AAR, has completed the acquisition, and it now owns 100%.

E-cite intends to use the facility for design, R&D, prototyping, development, and corporate requirements. E-Cites production of parts and assembly of vehicles will be primarily done by a variety of partners.

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 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 and 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, 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.vaporbrandsint.comwww.ecitemotors.com (OTC PINK:VAPR) is a publicly traded company based in Bothell, WA 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.ecitemotors.com

SOURCE: VaporBrands International, Inc.

View source version on accesswire.com:
https://www.accesswire.com/692423/VAPR-E-Cite-Motors-Secures-22-Million-Dollar-Facility-and-Acquires-Acclaimed-Auto-Repair-Supporting-its-EV-Auto-Manufacturer-with-a-Big-Advantage-over-Other-Automobile-Companies

FAQ

What is the significance of VaporBrands' $2.2 million facility acquisition?

The acquisition provides a dedicated space for R&D and production, enhancing E-Cite Motors' operational capabilities.

How does the acquisition of Acclaimed Auto Repair benefit VAPR?

Owning 100% of Acclaimed Auto allows VAPR to integrate repair services with vehicle manufacturing, creating synergies.

When does E-Cite Motors expect to deliver its first production vehicles?

E-Cite Motors aims to deliver its first production vehicles for the 2023 model year, less than 12 months from the announcement.

What regulatory advantages does E-Cite Motors have over competitors?

E-Cite is not bound by the costly certifications required for traditional automakers, allowing for a faster and cheaper market entry.