HOLLYWOOD, Calif. and LAS VEGAS, Nov. 24, 2003 (PRIMEZONE) -- Whistler Investments, Inc. (Name change pending to Global Electric) (OTCBB:WHSL) announced today the production has been initiated on the highly anticipated "R" car project.
The "R" car is the latest edition to the Global Electric alternative energy source vehicle lineup. The previously announced NEV (Neighborhood electric vehicle) was a huge success from a design and technology standpoint; therefore, production on the flagship "R" car has been fast tracked due to international industry and media attention.
The anticipated use for the "R" car is for medium to long range trip as well as client district use. The technology applied within the "R" car is created by Chaz Haba, world-renowned electric propulsion and alternative energy physicist.
Production of the "R" car will take place in Los Angeles, California and plans to build a production facility in southern California high on the corporate agenda as the "R" car is expected to surpass industry analysts expectations this year.
Holly Roseberry, President of Global Electric, stated that "This vehicle represents the jewel in our crown as we are producing a vehicle that will not only meet the industries expectations but will surpass them. Our intention is not to complete with other electric vehicle companies, our goal is to produce a vehicle that stands alone and this vehicle serves that purpose."
About Whistler
About Whistler (Global Electric) www.globalelectric.com
Whistler Investments Inc. (OTCBB:WHSL), name change pending to Global Electric Corp., is an emerging leader in the development and marketing of electric vehicles and electric powered products worldwide.
We at Global believe our superior technology, coupled with an aggressive marketing plan, will establish our company on the world stage. With the global focus moving rapidly towards addressing pollution, the need for sustainable zero emission energy is current. As current legislation is dictating a move towards this type of energy we foresee this industry as one of the fastest growing segments within the global economy.
Global is applying this technology to products that are currently in wide spread global use, such as scooters, bicycles, mopeds, motorcycles, small vehicles and the highly anticipated "R" car. The combination of usable cutting-edge technology and mass-marketed products creates a unique market opportunity for our company. Technology that can be applied immediately allows Global to begin the sales cycle immediately.
Global technology will also focus on the creation of a 100% self-powered house. This unit will feature lithium-powered technology in addition to other leading edge energy creation technology. The house will be located in the Los Angeles area and will be a showcase of Global Electric and the power of lithium.
FACTS ABOUT ELECTRIC VEHICLES
1. More Americans are dying as a result of automotive air pollution than are killed on American highways.
2. The U.S. economic cost of air pollution was put at $30 billion annually (in 1970) by Senator G. Nelson.
3. Automakers' costs for changing to non-polluting automobiles would be one-third of the annual economic damages caused by the internal-combustion engine. -- Sen. G. Nelson, 1970.
4. Over 90% of Americans (polled in 2001) supported clean-air transportation technologies. Most would even pay a bit more for cleaner cars.
5. Electric vehicles (EVs) produce no air pollutants.
6. On Earth Day in 1990 GM Chairman Roger Smith unveiled the Impact EV, announcing that GM would be the first auto company to produce and sell electric cars.
7. In September 1990, the California Air Resources Board (CARB) mandated that zero-emission vehicles (ZEVs) constitute 2% of sales by 1998, rising to 10% in 2003.
8. When GM called for EV test drivers, thousands responded, a few consumers enclosing down payments.
9. In March 1991, GM EV Team head Ken Baker said: "We're committed to deliver a product by the mid-1990s."
10. In 1994 GM Chairman of the Board John Smale drove the Impact EV for a few days. He reported that he and his wife very much liked the car. He said: "...my instincts are that we could sell a lot more of these cars than we might think." He added: "...the niche may be big enough for us to get profitable with an electric vehicle."
11. In the 1990s, Big Oil and automakers spent over $10 million on anti-EV ads and disinforming editorials.
12. In November 1995 the CARB, pressured by the oil and auto industries, essentially repealed the 1998 ZEV mandate. The 2003 requirement for 10% ZEVs still stands, with allowances for hybrid (HEV) credits.
13. 1997-1999: GM test-marketed the GM EV1. Thousands of consumers requested one, although only a few hundred were available, by lease only (no purchase option), in Southern California and Arizona.
14. SUVs and luxury cars provide most of U.S. automakers' profits.
15. GM quit making EV1s in 1999 after producing 1500 total.
16. GM provided grant monies to the Green Car Institute, which hired the respected automotive market research firm Dohring Co. to do an EV market study. The study concluded, reporting in June 2000, that a 12%-18% market for EVs existed (about 200,000 EV sales annually), awaiting the offer of a product.
17. GM and Chrysler/Daimler are currently suing the CARB to avoid providing EVs for the California market.
18. The automaker association is fighting ZEV-mandate moves by 12 states in the Northeast.
19. As of March 2002, no major automaker sells highway-capable EVs to the general U.S. market.
20. These facts, excepting No. 4, No. 16 and No. 19, were abstracted from "Taken for a Ride", Jack Doyle, Four Walls Eight Windows, New York, 2000.
Forward-Looking Statement
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.