CTandT Announces Plans for U.S. Joint Venture with Electric Vehicle Technology Innovator PUES Corporation

Collaboration will bring advanced electric vehicle in-wheel direct drive motors to U.S. market

SEOUL, SOUTH KOREA – JULY 23, 2009 – After recently announcing its entry into the U.S. market, CT&T (www.ctntunited.com), a global leader in Electric Vehicle (EV) technology, today announced a joint venture with PUES Corporation and E-1 Technology. The joint venture will bring breakthrough EV technologies to the U.S, including advanced EV in-wheel direct drive motors.

“Through discussions with PUES Corporation, we have outlined plans to include several exclusive EV technologies and product development efforts, including in-wheel motor drives and rapid charger technologies, that expand and accelerate our U.S. market product advantages and plans,” said CT&T President and CEO Young Gi Lee. CT&T has partnered with the PUES Corporation on a number of projects in Asia since 2005.

In collaboration with Tokyo-based PUES Corporation, CT&T has developed technology for its EV cars that expands their performance and commercial viability. With plans for additional research, development and manufacturing of these motors domestically, the partners have applied for financial support from a Department of Energy grant.

PUES has been working with E-1 Technology to establish the manufacturing technology of its drive and battery systems for various power range applications. E-1 Technology is a U.S.-based entity and will play an important role in commercializing the technology from the joint venture between CT&T and the PUES Corporation.

Commenting about the partnership, PUES Corporation President and CEO Masao Ono said, “We are pleased to work closely with CT&T, a true innovator and leader in the manufacturing of electric vehicles. The joint venture will expedite our go-to-market strategies, and we believe will accelerate the adoption of EVs among U.S. consumers. This technology, coupled with CT&T’s industry-leading crash test performance standards, places us above the competition.”

In-wheel electric motors deliver features that allow EVs to better meet consumer needs. “In-wheel direct drive motors give electric vehicles a significant boost in performance and efficiency. The result is the vehicle gains a significant increase in distance and responsiveness when driving. We feel this gives us a significant advantage,” Lee said.

Electric vehicles with in-wheel motors are lighter weight (27 percent less than conventional motors), offer improved energy efficiency (by as much as 95 percent), better performance (doubled driving distance range) and increased power (from 2.5kw to 25kw).

In early July, CT&T announced plans to establish North American headquarters, a research and development center and several manufacturing facilities to produce and market an entire product line of EVs and batteries. Company officials are considering potential sites in Alabama, California, Georgia, North Carolina and South Carolina; the company expects to employ 2,600 within the next five years.

CT&T’s flagship eZone electric vehicles are the only Neighborhood Electric Vehicles (NEV) that pass the Federal passenger car standards for front and side impacts, and that
offer dual independent circuit hydraulic disk brakes and four-wheel MacPherson strut independent suspension.

CT&T United will produce and market City Drive Electrical Vehicles (EVs), Mid-speed Electric Vehicles, High-speed Electric Vehicles, Utility Electric passenger vehicles and electric buses, as well as batteries in the Lead Acid, Advanced Lead Acid, Lithium Polymer and Lithium Ion categories for domestic and export markets.

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About CT&T:
CT&T is an acknowledged global leader in Electric Vehicles and EV technologies with manufacturing facilities currently in South Korea and China with several U.S. facilities targeted to begin production by the end of 2009. The company manufactures the eZone electric vehicle, the only NEV that has passed the Federal Motor Vehicle Safety Standards crash test standards for front impacts and the European New Car Assessment Program standards for side impacts. One of the few fully integrated vehicle, motor and battery producers in the world, the company produces and markets City Drive, Mid-speed, High-speed, and Utility electric passenger vehicles and electric buses under the CT&T brand. Young Gi Lee, a former executive of Hyundai Motor Corporation, founded CT&T in 2002 with a vision of bringing zero emissions transportation options to companies and individuals. For more information visit www.cntunited.com.

About PUES Corporation:
Founded in 1999, PUES Corporation is based in Tokyo, Japan and develops and manufactures electric motor, inverter, controller and battery management system for hybrid and electric vehicles. The company is a division of Tokyo R&D Co., a recognized global leader in research and development for the automotive industry and known for its development of high performance gas and electric racing cars.

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