Business & Finance
Business and Finance
Business and Finance 
Thu, June 3, 2010
Ronn Motors Supports the Bipartisan Electric Drive Vehicle Deployment Act of 2010
MARBLE FALLS, TX--(Marketwire - June 3, 2010) - Ronn Motor Company (RMC) (
Ronn Maxwell, Ronn Motors CEO, commented, "We believe that once this Act is approved and passed into legislation, Ronn Motors will be in an enviable position to take full advantage of the benefits the proposed Act has to offer due to the Company's existing relationships with the City of Marble Falls and the State of Texas. We believe the Company will be able to obtain funding in the form of loan guarantees and other financial incentives made available by the federal government, and will qualify for various grants in energy efficiency research and in connection with the development of our second automobile, an electric-hydrogen hybrid."
The Electric Drive Vehicle Deployment Act of 2010, with $11B in funding, is meant to extend incentives, provide grants to selected cities to demonstrate deployment of electric vehicles and to provide additional measures to support the research, development, deployment and manufacturing of electric vehicles, charging infrastructures and related technologies.
"The Electric Drive Vehicle Deployment Act will lead to a surge in job creation, help consumers, recharge our economy and greatly enhance our national and environmental security," said Massachusetts Democrat Edward J. Markey, one of the House sponsors of the bill. "We import most of the oil we use, much of it from countries that seek to do us harm. The catastrophe in the Gulf of Mexico is yet another reminder that it's time for America to start driving toward a clean energy future, and electric vehicles can help power the way."
Highlights of the 11 billion dollar Act from the electrification coalition include:
- awards of up to $800 million for communities around the country to deploy electric vehicles and related charging infrastructure
- tax credits for up to $2,000 for consumer purchases of EV chargers and up to $50,000 for businesses for installing multiple chargers
- the support of the battery research with a $1.5 billion grant
- additional research, development and manufacturing incentives to be provided for technologies that enable widespread deployment
Headquartered in Marble Falls, Texas, Ronn Motor Company, Inc. is a design and manufacturing company focused on the leading edge engineering of environmentally friendly, finely built premium automobiles and "green," eco-responsible technology. These technology systems include Hydrogen Fuel, Fuel Cells and Plug-in Electrics. Our products will be incorporated into our originally designed and manufactured automobiles and will also be made available for aftermarket applications. Our products, coupled with RMC's core values of a strong sense of ethics, environmental sensitivity and premium quality, position the Company as one of the new leaders in an automotive industry transitioning toward greater fuel efficiency. For more information, please visit [ www.ronnmotors.com ]
This release contains forward-looking statements that reflect Ronn Motor Company's (the "Company") plans and expectations. In this press release and related comments by Company management, words like "expect," "anticipate," "estimate," "forecast," "objective," "plan," "goal" and similar expressions are used to identify forward-looking statements, representing management's current judgment and expectations about possible future events. Management believes these forward-looking statements and the judgments upon which they are based to be reasonable, but they are not guarantees of future performance and involve numerous known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements.