U.S. Markets closed

2050 Motors Appoints Electric Vehicle Industry Pioneer to Newly-Formed Advisory Board

LAS VEGAS, March 11, 2019 (GLOBE NEWSWIRE) -- 2050 Motors, Inc. (US OTC: ETFM) today announced that its Board of Directors has approved the creation of an Advisory Board of up to five (5) technology, finance and business professionals to guide it into the next chapter of growth in the electric vehicle (EV) market. The Company is pleased to announce Aldo Baiocchi, Founder and CEO of DayMak Inc. (www.daymak.com), a leading provider of eBikes and related machinery, as the first member of this Advisory Board.

Said Aldo Baiocchi, CEO of Daymak:

Daymak has been a pioneer of the eBike market since 2001, when I simply wanted to purchase such a machine for my daughter and found none available or suitable in Canada. Since then, I have built Daymak and its affiliates into multiple locations across the nation and generated substantial sales over the years. We have multiple SKUs in the eBike, eScooter, eATV, eSnowmobile, and related markets. Looking ahead, we are integrating onboard solar recharging, Internet of Things (IoT), and wireless technologies to make our products the premiere eMachines available anywhere in the world. I am excited about the near-term growth opportunities at 2050 Motors and am particularly enthusiastic about our Companies’ ongoing collaboration in EV ride sharing and rentals, which I believe are each billion dollar or more markets over the coming years. To this end, I launched a ride sharing and rental portal to target the EV rental market, aimed at following in the footsteps of other similar sharing and rental plans in hospitality (e,g., AirBnB), ride sharing (e.g., Uber, Lyft), and eScooter and bike/eBike rentals (e.g., Divvy, Citi Bike, Bird, Lime, Jump, Motivate). I believe a partnership and/or combination of this platform with 2050 Motors will become a powerful force in this rapidly growing market.

Said Vik Grover, CEO of 2050:

I have been in discussions with Aldo for many months on the substantial upside potential of the EV market, especially regarding eBikes. As I have said earlier, the time could not be better to attack this high-growth opportunity and build a substantial player in the EV market here and abroad. 2050’s Phase I strategy in distribution is a stepping stone to a planned Phase II launch of B2C sales / M&A followed by a future Phase III launch of eBike ride sharing and rentals.

Aldo Baiocchi Bio

Aldo Baiocchi is President and founder of Daymak Inc. and is responsible for the vision and daily operation of the Company. Under Mr. Baiocchi’s leadership, Daymak has sold over $100 million worth of eBikes since its inception. The Company is the largest distributor of eBikes in Canada with over 100 dealers worldwide. Daymak is the developer of the Daymak Drive Bluetooth controller technology that is a universal controller acting as the brain of an electric vehicle. It is featured in Daymak’s eATVs, eBikes, eScooters, mobility products and mini dirt bikes. The controller features GPS, geo-fencing, motor lock, re-gen brake, motor lock and many more features.

Daymak is also the developer of the Daymak Beast Scooter, Daymak Beast ATV, and Boomerbeast mobility scooter, popular new models with substantial demand evidenced in the market. These vehicles feature all-wheel drive and an all-electric drive trained-controlled by the Daymak Drive controller. Additionally, Daymak has developed the EC1 (Electric Carbon eBike). Featuring a light carbon frame and fully-integrated display in the handlebar, the EC1 is one of the lightest electric bikes in the market.

Daymak has been named one of the fastest growing companies in Canada according to Profit Magazine. Baiocchi has won several awards including the Cleantech North Award for the development of the Company’s Shadow eBike (first wireless eBike) and Daymak has been named one of the Greenest companies in Ontario. The Company is based in Toronto, Canada.

Baiocchi has over 25 years’ experience in management roles. Previously he was Vice President of Production at Microforum Inc. (TSE from 1987-1997) where he developed several software programs including “Virtual Corporation”, a voice-activated game, and the PC “New Beat Trancemission”. Aldo was President of Aludra Inc. from 1997-2001 a computer software company. Mr. Baiocchi is an avid entrepreneur with over 30 years’ experience, has a vision to proliferate electric bikes, electric vehicles and drones globally through e-sales, e-ridesharing and e-rental programs/clubs, and has a Bachelor’s Degree from York University.

About 2050 Motors, Inc.

2050 Motors, Inc. (http://2050motors.com/about-us.html) is a publicly-traded company founded to develop, produce, distribute and sell the next generation of clean, lightweight, efficient vehicles and their associated technologies. Some of these technologies include alternative renewable fuels, hybrid electric vehicles, advanced graphene lithium batteries and low-cost carbon fiber vehicles. Additionally, the Company is exploring next-generation energy technologies, including Power over Ethernet (Poe), Light Emitting Diodes (LEDs), and other substantial, global, high-growth verticals. The Company has been successful in forming long-term relationships and exclusive contracts for a variety of game-changing technologies.

Disclosure Statement

Statements in this press release about our future expectations, including without limitation, the likelihood that 2050 Motors will be able to meet US DOT requirements, meet minimum sales expectations, be successful and profitable in the US market, bring significant value to 2050 Motors' stockholders, and leverage capital markets to execute its growth strategy, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. No information in this press release should be construed in any whatsoever as in indication of the Company’s future revenues, financial performance, or stock price. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.

CONTACT:

Vik Grover, CFA

CEO

2050 Motors, Inc.

(630) 708-0750

info@2050motors.com

https://www.linkedin.com/in/vikgrover/