Due to technology advances in power electronics, the demand for larger battery systems is on the rise. One obvious area for application of new large scale Li-Ion technology is electric vehicles. This new technology will make it possible to drive a passenger vehicle over 100 miles on a single charge at near highway speeds. While the market for electric passenger vehicles is in it's infancy, many other applications exist that we can take advantage of today. In many developing countries, mopeds and scooters are a primary source of transportation. Traditionally they are powered by small two-stroke gasoline engines. Air pollution has become a major health concern and legislation has been passed to reduce or eliminate these dirty engines. Development is underway to test a scooter that can travel over 75 miles on a single charge, and weighs no more than the gasoline-powered version. It is also silent in operation, has fewer moving parts, and requires no oil or coolant. Tests are underway for lightweight, long-range power-assisted bicycles with great success. Other examples of application are children's riding toys and small scooters with speeds of 10-15 mph. Armor Electric is engaged with industry leaders to introduce these products into markets where they are in great demand. Through our alliance partners, we have entered into initial Agreements to develop and deliver prototypes for several of these products. The development process is in the in the testing phase and expectations are high. Based upon initial tests, the prototype products have exceeded industry demands on all fronts. The prototype products are now going through the manufacturability design phase. We expect to deliver these prototypes for manufacture in the coming months. Several large distributors have expressed interest in placing orders as soon as products are ready.
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