TULSA, Okla., Dec. 15, 2011 /PRNewswire/ -- US Highland (UHLN) http://www.ushighland.com announced today that the Board of Directors approved the formation of US Highland Electric, Inc., to be a wholly owned subsidiary of US Highland, Inc. to take full advantage of the demand for electric motor products. This announcement follows preliminary discussions with a prospective US-based OEM that specializes in proven, patented and advanced electric motor technology.
Robert Harris, Chairman of US Highland stated, "The rapid progress at both US Highland, Inc. and US Highland Electric, Inc. is generating interest from the Power Sports industry and excitement within the investment community."
This new development further enhances US Highland's strategic position to diversify and expand their OEM market opportunities. The rapidly expanding market for high performance electric motor powered products is uniquely aligned with US Highland's American Made Performance™ product strategy.
Pike Research is forecasting that more than 466 million electric bicycles and motorcycles will be sold worldwide during the period from 2010 to 2016. Given that the annual global motorcycle market is currently around 80 million units a year, almost all of them based on the internal combustion engine, this anticipated explosion in electric bike demand could double the size of the two wheeled market, not to mention dampen the demand for electric four-wheelers. http://www.gizmag.com/466-million-electric-motorcycles-by-2016/14306/
"Our primary efforts at US Highland are focused on creating sustainable growth within the Power Sports Industry based on a diversity of both combustion and electric technology for both our OEM and individual Power Sports customers," commented President & CEO John R. Fitzpatrick, III. He also stated, "Our long term strategy is to provide our customers with premium quality innovative high performance products with unsurpassed customer service."
About US Highland, Inc.
US Highland, Inc., is a US based designer and manufacturer of high performance, premium quality powertrains and motorcycles. For additional information concerning US Highland visit www.ushighland.com.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events of future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluation such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
SOURCE US Highland, Inc.