Electric Motorcycles & Bikes

The first products to be commercialized are electric bikes and motorcycles ("e-bike"). Extensive market research, which is ongoing, was conducted in 2006 and the e-bike division commenced production and sales in early 2007. With current annual capacity to produce more than 200,000 e-bikes, and a second facility going into production in 2009, the Company significantly grew sales to 227,074 units for fiscal 2008 versus a total of 60,130 units in 2007.