Business
OTC Markets Approves VAPR E-Cite Motors Change of Control Application Following Recent Acquisitions
OTC Markets Approves VAPR E-Cite Motors Change of Control Application Following Recent Acquisitions.
About this update from Vaporbrands International, Inc.
[{"type":"text","content":"BOTHELL, WA / ACCESSWIRE / March 29, 2022 / VaporBrands International, Inc. (OTC PINK:VAPR) dba E-Cite Motors www.ecitemotors.com an innovative Electric Vehicle manufacturer announced that OTC Markets www.otcmarkets.com has approved VAPR E-Cite's change of control application.Now that the Change of Control has been approved E-Cite will be able to post current disclosures, company information, and financials via the OTCIQ portal providing accurate and transparent information to investors.Additionally, E-Cite intends to apply for a name change and a new ticker symbol that more accurately represents the nature of the business in the near future. In the meantime, investors can buy or sell the stock via virtually any broker or online trading platform such as E-trade under the symbol VAPR.E-Cite has several key advantages over other auto manufacturers. Unlike competitors Tesla, Nikola, Polestar, Lucid, VW, Ford, Jaguar, and others, E-cite is not required to meet any of the safety or other costly certifications of a traditional auto manufacturer making the ease and timeline of offering new vehicles to market significantly more favorable. Whereas the initial timeline to be able to deliver a production vehicle to market generally exceeds 3 years and often longer at a very high cost, E-Cite expects to be delivering its first production vehicles for the 2023 model year. That is less than 12 months from inception to the showroom.This is possible because E-Cites vehicles qualify under the "Low Volume Vehicle Manufacturers Act of 2015" In 2015 Congress enacted a bill into law directing the NHSTA to establish a program allowing low volume motor vehicle manufacturers to produce a limited number of vehicles annually within a regulatory system that addresses the unique safety and financial issues associated with limited production, and to direct the EPA to allow low volume motor vehicle manufacturers to install engines from vehicles that have been issued certificates of conformity. Although they were given one year to establish this new program it took until January 2021 until the NHSTA issued a final ruling to allow low volume vehicle manufacturing. Under the act car manufacturers that meet the criteria are exempt from all the safety standards but they must meet current emissions standards. There are no emissions standards for EV vehic...