Paul Andrews
XP Vehicles Inc.
1-510-868-2862, Ext. 3
contact@myxpcar.com
XP Vehicles Inc. calls for Apollo 11-class national effort to deliver the electric car to market on Anniversary of Moon Landing.
SAN FRANCISCO, Calif. –July 20, 2009 – XP Vehicles, Inc., A nationwide electric vehicle company comprised of contractors and partners from across the nation and from across the auto and aerospace industries, announced phase two of its “Giant Leap Program”, inspired by Apollo 11’s massive national program to put a man on the moon. The “Giant Leap Program” brings together companies, schools, associations and the public to educate, promote and deliver electric vehicles to market in retail volumes and prices.
XP Vehicles is developing technologies that have been tested on Mars, the Moon and across the Earth for the production of a new type of paradigm-shifting ultra-safe, low cost, electric automobile. Their effort is an example of space technologies coming back to serve fundamental service on Earth in the hands of mainstream consumers.
XP Vehicles, one of the first U.S. Department of Energy, Section 136, AVTM loan applicants to receive notification that their application has been considered substantially complete.
The company applied for a commercial $40M Department of Energy “ATVM” loan at the beginning of November 2008 and has been in extensive due diligence review by the U.S Government for the last seven months. Energy Secretary Chu has ordered funds from the program to be dispersed “as fast as possible”. XP Vehicles expects finalization soon and has also applied for additional loan and grant opportunities and is currently negotiating with investor opportunities.
Since early 2009, XP Vehicles has a standing challenge to every other electric car company to beat its metrics. To date, no other electric vehicle company has accepted the challenge. The XP Vehicles MUV (Mini Utility Vehicle) is targeted at a $20,000.00 base price.
For more information on XP Vehicles, please visit www.myxpcar.com.
About XP Vehicles, Inc.
In development by Clever Industries LLC for nearly a dozen years, with millions of dollars in resources already invested, spin-out XP Vehicles, Inc., is on a mission is to develop the safest, most affordable vehicle with the lowest total cost of operation (TCO) and the best power-to-weight ratio powered by alternative energy. The company’s founders have extensive industry experience in automotive design, automotive operations, lean manufacturing, new materials, startups and fund raising. The company is seeking to enter the market with the "vehicles of change™” offering hope for the new auto industry and the economy as a whole and is committed to establishing as many American jobs as possible, as soon as possible.
About the ATVM Program
The Advanced Technology Vehicle Manufacturing Incentive Program (ATVM) was established under Section 136 of the Energy Independence and Security Act of 2007 and administered by the Department of Energy (DOE). The ATVM is an incentive program which provides loans and grants to automobile and automobile part manufacturers for the cost of re-equipping, expanding, or establishing manufacturing facilities in the United States to produce advanced technology vehicles or qualified components, and for associated engineering integration costs.
