BEIJING and LAS VEGAS, Dec. 8, 2003 (PRIMEZONE) -- Whistler Investments, Inc. (OTCBB:WHSL) (Name change pending to Global Electric) announced today that Chaz Haba, Global Electric Technical Consultant, as well as a senior representative from Global Electric will travel on an official visit to Mainland China to visit key manufacturers.
The purpose of the trip is to solidify a joint venture with the third largest Chinese automotive and motorcycle manufacturer.
Sources close to the Chinese Government have confirmed that in preparation for the 2008 Olympics, China has passed a law that all motorcycles and scooters must be converted to battery power by the year 2005. Currently, only 30 percent are battery-powered, and these are of the lead acid type.
"The introduction of lithium power and the system applied to the conversion of vehicles will set an incredible precedent within the Chinese automobile community" stated Don Rose, Director of business development.
The following is a summary of potential economic impact:
1. China must find suitable partners in the field of alternate energy and, more specifically, sustainable electric propulsion units in order to reach it's mandated emissions reduction plan.
2. China and its vehicle population is growing at a rate of 12%-15% per annum by 2010. It is estimated that the number of motorcycles and automobiles in China will be 44-50 million.
3. Global Electric, working with a Chinese joint venture partner, can provide both public and private industry a viable option in respect to mass production of electric propulsion units throughout China, and for that matter, the rest of Asia
For more details visit the information section of our website, www.globalelectric.com
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.