The German based Loremo AG just announced that Malaysian Kosmo Motors takes a 26% stake in the Loremo AG.
When I published the initial story about the 157MPG lightweight diesel powered passenger car, I got tons of emails from US consumers asking to let them by a Loremo now, they want one really badly.
It is kind of surprising that a Malaysian investor sees the potential of this innovative efficient car and not a European or American one.
CEO of Loremo AG Gerhard Heilmaier says about the deal: "we appreciate the engagement of Kosmo Motor in the Loremo AG. It will be a fruitful cooperation for both sides. We win a competent and strong partner in the Southeast-Asian market and Kosmo Motor’s R&D benefits from the technology exchange." The 26% are supposedly valued at $2.4 million. (see this Malaysian report) Which would mean Loremo is currently only valued at around $10 million. Boy, it must be hard to get investors for new fuel efficient technology. A message to VC's in the United States: Consumers really want a Loremo, and fuel will not get cheaper.
The Loremo L22 will be on the road in 2009.
See also the Loremo site.
Don't Miss: Incredible Pokemon Gifts
Don't Miss: Nintendo Switch: Everything You Need To Know