plus 3, Li-ion Motors Corp. (OTCBB: LMCO) Corporate Update - MSN Money

Li-ion Motors Corp. (OTCBB: LMCO) Corporate Update - MSN Money
7 new tax laws to know - Yahoo Finance
DiMora Custom Bikes Announces Launch of Its New Website - Desert Sun
Component shortage puts brakes on auto firms - Rediff

Li-ion Motors Corp. (OTCBB: LMCO) Corporate Update - MSN Money

Posted: 01 Feb 2010 04:56 AM PST

Li-ion Motors Corp. (OTCBB: LMCO) www.Li-ionMotors.com, 21st Century Design & Engineering of emission-free automotive propulsion systems using the latest lithium battery technology, is pleased to provide its latest corporate update.

The company has now completed its 1 for 2 reverse split and name change from EV Innovations (OTCBB: EVII) to Li-ion Motors Corp. (OTCBB: LMCO).

Li-ion Motors Corp. continues to improve its efficiency for electric vehicles using lithium-ion batteries and has shipped its vehicles in The United States, Europe and now The Middle East.

We invite our shareholders to view the detailed press release to learn about all the exciting developments at Li-ion Motors Corp.

Please click here to review detailed press release: http://www.li-ionmotors.com/20100201

About Li-ion Motors Corp.

Li-ion Motors Corp. (OTCBB: LMCO) was incorporated in Nevada in 2000 and is a development stage technology company that is focusing its resources and efforts on the development and marketing of lithium-powered vehicles and products, as well as on commercial and residential properties. Everything from scooters, bicycles, mopeds, motorcycles, cars and homes are being converted successfully to zero-emission, lithium-powered vehicles and facilities.

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.

CONTACT INFORMATION: Investor Relations: 1-888-669-1808 info@li-ionmotors.com  Media Contact: 1-877-274-6236 pr@li-ionmotors.com  Sales/Reservations: 1-877-274-6236 sales@li-ionmotors.com  Website: www.li-ionmotors.com

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7 new tax laws to know - Yahoo Finance

Posted: 01 Feb 2010 02:55 AM PST

Facing a struggling economy, lawmakers in Washington, D.C., turned to the tax code to help get it, and us consumers, moving again. Most of the tax changes were part of the stimulus package enacted last February, the American Recovery and Reinvestment Act of 2009. There are seven new tax laws you should know, and some old tax laws with new amounts adjusted for inflation.

Tax breaks were created, or in some cases expanded, for autos and home purchases, as well as for certain residential improvements. Uncle Sam now pays more of some educational costs. Some workers get bigger tax benefits to offset their commute to work. Folks who no longer have jobs at least get some tax relief. Even how you pay your IRS bill could turn into a deduction.

Here's a look at some popular tax laws that could come in handy as you work on your 2009 tax return.

1. More homebuyer credits

In February 2009, the popular first-time homebuyer credit became a true credit, meaning that it can directly reduce dollar-for-dollar any tax you owe. Even better, the amount of the credit was increased; it's now up to 10 percent of the cost of the house up to a maximum $8,000. Best of all, it's a refundable credit so if your tax bill is zero, any credit for which you qualify will be sent to you as a refund.

A few months later, Congress extended the credit for the rest of the year (as well as into 2010). At that time, lawmakers added a new credit for "long-time" homeowners who've owned and lived in their residences for at least five consecutive years of the eight years before they buy a new house. Those folks now might qualify for a $6,500 credit.

While the first-time home purchase credit is generally a good thing for taxpayers, it will require some care in claiming it. Because of the various law changes, different income eligibility limits apply depending on when you bought the house and which type of buyer, first-time or move-up, you are.

The new law also requires stricter proof of purchase. This safeguard against fraud requires you to send in a copy of settlement sheet, so you won't be able to file your 2009 return electronically. And that could slow down your refund.

2. New-car sales tax deductions

If you bought a new vehicle -- that includes a car, light truck, motorcycle or even a motor home -- on or after Feb. 16, 2009, and by Dec. 31, 2009, any sales or excise tax you paid could be a deduction.

This isn't a new option for taxpayers who itemize. But now even taxpayers who claim the standard deduction can take advantage of the tax break. Standard deduction filers will have to fill out a new form, Schedule L, to claim the automotive sales tax. Itemizers still will have the choice of claiming the deduction for the sales tax on Schedule A.

Just don't count on writing off the sales taxes on a luxury vehicle. The deduction is limited to the tax paid on up to $49,500 of a vehicle's purchase price. You can, however, claim the tax deduction for each new vehicle you bought last year.

And your deduction might be limited by your income. You'll get a partial deduction if your income as a single taxpayer is between $125,000 and $135,000; between $250,000 and $260,000 for joint filers. If you make more than those top amounts for your filing status, you can't claim any amount.

3. Expanded education credit

For 2009 (and 2010, too) the Hope Education credit is replaced by the American Opportunity Credit. The new credit is worth $2,500 per student, based on the first $4,000 of qualifying educational expenses. The Hope Credit only allowed for an $1,800 tax break.

In addition to upping the credit amount, the American Opportunity Credit can be claimed for expenses for the first four years of post-secondary education, versus the first two years of expenses allowed under the Hope Credit.

More expenses can be counted in calculating the new credit. Its income limits are larger, meaning more folks making more money -- up to $90,000, or twice that for joint filers -- can claim at least a partial credit.

And if you claim the American Opportunity Credit but don't owe the IRS, you still might still get a refund. Forty percent of the credit if refundable, which means you could receive up to $1,000 even if you owe no taxes.

4. Enhanced home energy credits

Credit for homeowners who make their homes more energy efficient reappeared in 2009 and in a much more generous incarnation.

Homeowners who make energy-efficient improvements to their existing homes now can claim a credit of 30 percent of the cost of all qualifying upgrades, up to a maximum credit of $1,500. This covers such relatively simple things as adding insulation, energy-efficient exterior windows and energy-efficient heating and air conditioning systems.

If you really want to take the extra energy-efficiency step, more-costly and complex upgrades, such as various solar, wind and geothermal systems, offer a credit of 30 percent of the purchase price with no maximum credit cap. In these cases, the cost of installation also can be used in the credit calculation.

Improvements must meet Energy Star standards and must have been put into service at your home during the tax year.

5. Jobless benefits less taxing

Last year was a tough one for many workers. Layoffs hit record levels. Unfortunately, unemployment compensation is considered taxable income. Now, however, the first $2,400 of such benefits are excluded from income.

6. Biking tax break

Last year bicycling commuters were included in the tax code section that allows for employer reimbursement of workplace transportation costs. Thanks to the Bicycle Commuter Act, cyclists now get some of the same type of tax-free fringe benefits as do their motoring co-workers. If a company provides the benefit, which is $20 per month, a worker can put into a special tax-favored account, bicycle commuters can use that money to help defray such costs as the purchase of a bicycle, bike lock, helmet, bike parking fees, shower facilities and general bike maintenance.

7. Deduction for credit card fees

If you pay your income tax (including estimated tax payments) by credit or debit card, you can deduct the convenience fee you are charged for the transaction. You include the fee amount as a miscellaneous itemized deduction on line 23 of Schedule A. This means that the card fee, along with any other IRS approved miscellaneous deductions, must exceed 2 percent of your adjusted gross income before they count. That will limit the value of this break for many filers, but if you do have substantial expenses to claim in this category and charge any tax payments, be sure to add the card fee to the mix.

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DiMora Custom Bikes Announces Launch of Its New Website - Desert Sun

Posted: 31 Jan 2010 10:01 PM PST

Palm Springs, California DiMora Custom Bikes, creator of the world's finest custom motorcycles, announced today the launch of their redesigned website for customers and dealers, offering simple navigation, extensive photo galleries, and detailed specifications of its custom motorcycles.

Founder and CEO Alfred J. DiMora spoke about the guiding principles behind the new website. "We strive to continually upgrade the quality, organization, usability, and advanced features of our online presence. Our new design works perfectly with our decision to begin offering our custom motorcycles through a national and international dealership network."

As creator of the $2 Natalia SLS2 V16 sedan, DiMora has been a pioneer in advanced utilization of the web, making DiMora Motorcar the first auto manufacturer to reveal the design, production, and testing of its automobiles via the Internet so that people around the world can learn about them and participate in the process. In the same way, DiMora Custom Bikes will utilize DiMora TV online to bring viewers into the shop where it builds the world's most advanced motorcycles with state-of-the-art technologies.

Every DiMora motorcycle complies with U.S. Department of Transportation and California Air Resources Board standards and meets or exceeds the strict new 2010 Environmental Protection Agency requirements. Motorcycles produced for export meet all applicable standards for the destination country.

About DiMora Motorcar and DiMora Custom Bikes

Based in Palm Springs, California, DiMora Motorcar crafts automobiles designed to exceed expectations in every aspect of automotive engineering. DiMora Custom Bikes takes the DiMora passion for technological innovation and uncompromising quality that is the hallmark of the Natalia SLS 2 and brings it to the motorcycle world. Its products are available worldwide through the growing DiMora dealer network.

Alfred J. DiMora, founder and CEO, has produced two of America's finest luxury automobiles, the Clenet, as owner, and the Sceptre, as co-founder. When President Reagan declared 1986 the Centennial Year of the Gasoline-Powered Automobile, the Clenet was selected as the Official Centennial Car, resulting in honors for DiMora and the Clenet at the Automotive Hall of Fame in Michigan.

For more information, please visit www.dimoracustombikes.com.

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Component shortage puts brakes on auto firms - Rediff

Posted: 31 Jan 2010 09:47 PM PST

Bajaj Auto has seen motorcycle production more than double since the lows of December 2008 on the back of surging sales. That's the good news.

The bad news is that the company has reported an output constraint at its plants because some component vendors were unable to keep pace with the faster production cycle.

The reason is simple: the surge in demand even after the festive season has caught many auto-component suppliers by surprise and they have had little time to expand capacity to match it.

"We are stretching our capacities to the limits but are still unable to satisfy demand. The momentum in sales growth, which picked up in September-October, has gone much beyond our estimates," says Aditya Bhartia, managing director, Advik Group, whose group company Advik Hi-Tech supplies Bajaj Auto [ Get Quote ].

Mahindra & Mahindra is facing the same problem. Pawan Goenka, president (automotive sector), says the company lost 5 per cent of its production in December because suppliers were unable to match demand. "We don't expect the problem to be solved before April," he adds.

Maruti Suzuki [ Images ], the country's biggest passenger car producer, recorded its highest monthly sales in December of more than 100,000 units compared to average monthly sales of 65,000 to 70,000 units. Maruti now says production has been impacted by a shortage of components.

It's the same story everywhere. Auto component makers are grappling with the surge in demand from companies with all vehicle makers reporting higher sales. Passenger vehicle sales jumped 48.5 per cent during the October-December, 2009 period, two-wheelers 35 per cent and commercial vehicles 98 per cent.

With the sales surge showing no signs of abating in January, auto component makers are beginning to take steps to solve the supply mismatch. Motherson Sumi System, Delhi-based supplier of wiring harnesses and the flagship company of the Rs 4,000 crore Samvardhana Motherson Group, has already started expanding capacity.

Says Pankaj Mittal, chief operating officer, MSSL, "As and when our capacity reached 80 per cent we decided to open a new facility. We invest Rs 300 crore (Rs 3 billion) to Rs 350 crore (Rs 3.5 billion) every year as capital expenditure and that will continue."

Large-sized companies like Motherson and Bharat Forge [ Get Quote ] have taken the lead, but their smaller counterparts are not far behind. Advik, for example, is now gearing up to invest Rs 50 crore (Rs 500 million) in raising capacity 50 per cent, the investment being more than half its targeted turnover for the current year.

Pune-based Precision Camshaft, a camshaft manufacturer that supplies to Tata Motors [ Get Quote ] and M&M, is pumping Rs 55 crore (Rs 550 million) in a capacity ramp-up. Yatin Shah, managing director, Precision Camshaft, says, "We had created adequate stock for the festive period, but demand kept going up, so we are raising capacity 40 per cent."

This flurry of expansion and investment is in sharp contrast to the situation before October 2009 when most component makers suffered badly because of the demand slump and irregular payment schedules by vehicle manufacturers. Result: most of them were forced to close factories. Now, with banks taking a more benign view on lending and order-books bulging, they're stepping on the gas again.

That they have the space to do so is evident from the strong show that the auto ancillary industry put up in the third quarter ended December 2009. Sales jumped 32 per cent and net profit surged more than 10 times over the same quarter of the previous year. Although this performance can be attributed to the "low base effect" - meaning sales and profits grew slowly in the previous quarter - margins improved significantly to 9.46 per cent against 3.34 per cent in the same period.

However, quarterly data suggest that auto ancillaries may not maintain profits in the fourth quarter owing to rising input costs - from 58.7 per cent of net sales in the quarter ended September 2009 to 64.17 per cent in the quarter ended December 2009.

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