T3 Motion Expands International Footprint of its Electric Vehicles into Saudi Arabia, Receives Blanket Purchase Order for $1,881,000
New Distributor, Luxury Carts, to distribute T3 Series Vehicles in Saudi Arabia
Sep 12, 2011, 08:00 ET
COSTA MESA, Calif., Sept. 12, 2011 /PRNewswire/ -- www.t3motion.com -- T3 Motion, Inc. (NYSEAMEX: TTTM), a producer of clean tech/green tech electric personal mobility vehicles, today announced that Luxury Carts, a Saudi Arabian company, has been selected to exclusively distribute T3 Series Electric Stand-up Vehicles (ESV) in Saudi Arabia. Luxury Carts has a blanket purchase order to purchase multiple T3 ESVs for up to $1,881,000, to supply law enforcement agencies and security companies throughout Saudi Arabia. Luxury Carts may purchase the additional T3 ESVs through August 31, 2012. T3 Motion received the initial order release for T3 ESVs of approximately $231,000.
The T3 ESV will be used for many security and law enforcement applications throughout Saudi Arabia. Distributors anticipate that the ESVs will be used for the first time during Saudi Arabia's most prevalent tourist event, Hajj. The T3 ESVs would be used for security and as emergency responders throughout the event.
Luxury Carts is known for having a wide range of products and solutions for the utility vehicle and ATV industry and has a reputation for delivering operational excellence through superior customer service, innovation, quality and commitment.
This agreement further solidifies T3 Motion's presence in the Middle East, with contractual agreements in Qatar, Iraq, Kuwait, Lebanon, Egypt and the UAE. In addition to the Saudi Arabia order, the ministry of interior in Kuwait is expected to release an order for a significant number of T3 ESVs.
"The Middle East has been a very active area for our T3 ESVs," Ki Nam, CEO of T3 Motion noted. "Our focus this year has been to expand our clean technology into the international arena. Saudi Arabia represents a broad market for personal mobility vehicles."
Mr. Bakr, Managing Director of Luxury Carts, stated, "Luxury Carts is very pleased to be T3 Motion's distributor for Saudi Arabia. Saudi Arabia and the Gulf Corporation Council are increasingly conscious of using clean, green and alternative energy vehicles. We are very proud to be launching the T3 vehicle and look forward to having them used for the first time for Hajj at Mecca this year. We see the T3 as a significant advancement for the security industry, both government and private, in our country."
T3 Series Features
The cutting-edge green technology provides a low cost of operation, at less than 10 cents per day and two re-chargeable, swap-able batteries, the T3 has 24/7 operation with unlimited range.
- Zero-degree turning radius
- Swap-able batteries
- Speeds up to 25 km/h, the equivalent of 15 mph
- 9-inch raised platform provides a superior vantage point
About T3 Motion, Inc.
T3 Motion, Inc. (AMEX: TTTM) revolutionized the world of personal mobility with the introduction of their flagship electric T3. Headquartered in Orange County, California, T3 Motion, Inc. is dedicated to raising the bar on environmental standards and law enforcement and security capabilities in personal mobility technology. For more information, visit www.t3motion.com
About Luxury Carts:
Luxury Carts was established primarily for creating a new niche through identification of new opportunities and markets for premier golf carts, commercial and industrial utility vehicles, parts and accessories. Luxury Carts is Saudi Arabia's authorized distributor for premium UTV brands Club Car and Motrec Industrial vehicles, among others, and Trojan long-lasting deep-cycle batteries. Luxury Carts is the only UTV transport solutions company in the Kingdom of Saudi Arabia to have been certified ISO 9001:2000.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding T3 Motion's business, which are not historical facts, are "forward-looking statements" that are not guarantees of future performance. Such forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties include, among others, factors associated with market conditions and the satisfaction of customary closing conditions related to the proposed public offering. For additional information concerning these and other factors that may cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Registration Statement filed on Form S-1, as amended, and in the periodic reports the Company files from time to time with the Securities and Exchange Commission.
SOURCE T3 Motion, Inc.
Share this article