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Saleen Automotive reborn, promises a new supercar & high-performance EV

 Saleen Automotive reborn, promises a new supercar & high-performance EV
Saleen S302

Steve Saleen back in charge

Steve Saleen made a name for himself by building high-performance Mustangs and the S7 supercar, but he's finally back in control of the company that bears his name.

Thanks to a recently completed merger, Saleen Automotive now consists of Saleen Automotive and SMS Signature Cars. As you may recall, Steve Saleen resigned from Saleen Automotive in 2007 and went on to start SMS Signature Cars a year later.

The newly reconstituted company will offer a "complete line of upgraded muscle cars, performance cars, automotive aftermarket specialty parts and lifestyle accessories." More importantly, Saleen confirmed they are developing a new supercar as well as electric and zero-emission vehicles.

In a statement Steve Saleen said "We are excited to become a publicly-traded company and enter into the next stage of our growth, as we bring these automobiles into the mainstream and grow our retail presence into new markets in the U.S. We are also developing high-performance electric vehicles targeting the zero-emissions segment."

Source: Saleen Automotive

W270, Inc. Completes Merger With Saleen Automotive, Inc.

CORONA, CA--(Marketwired - Jun 27, 2013) - W270, Inc. (OTCBB: WSTY) today announced that it has completed its merger to acquire 100% of Saleen Automotive, Inc. and SMS Signature Cars ("Saleen" or "the Company"), a performance automotive company that manufactures, upgrades, and sells high-end sports cars and related parts. W270, Inc. changed its name to Saleen Automotive, Inc. on June 17, 2013.

Concurrent with the merger, Saleen Automotive, Inc. raised an aggregate principle amount of $3,000,000 (including the conversion of $500,000 of existing notes) via a securities purchase agreement with accredited investors.
Founded by Steve Saleen, renowned race driver and high-performance automaker, Saleen Automotive designs, develops, manufactures and sells high-performance cars that include the Saleen Mustang, Saleen Challenger and Saleen Camaro. The Company's products include a complete line of upgraded muscle cars, performance cars, automotive aftermarket specialty parts and lifestyle accessories. Also in development are the next generation of supercars, as well as electric and zero-emission vehicles for the commercial and consumer markets.

"Since 1983, I have been developing some of the world's most advanced high-performance street cars with special aerodynamics, highly functional cockpits, and precise handling suspension," said Chairman and CEO Steve Saleen. "We are excited to become a publicly-traded company and enter into the next stage of our growth, as we bring these automobiles into the mainstream and grow our retail presence into new markets in the U.S. We are also developing high-performance electric vehicles targeting the zero-emissions segment."

For more information, please see the Company's associated 8-K filing made with the U.S. Securities & Exchange Commission ("SEC").

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Comments (2)

DBaskov
I hope they will make an S7 successor!
Jun 27, 2013 10:40 pm
1 0
AstonMartin
This is good news. I hope the S5S Raptor project is revived as it was an incredible concept.
Jun 27, 2013 9:58 pm
2 0
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