Loremo News: Malaysian Kosmo Motors Invests in the 157MPG Car Company

May 26 2006, 8:46am CDT | by Luigi Lugmayr

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.

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Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.