120 MPG by 2010 for $30G’s

Better mileage is the holy grail for every car manufacturer these days whether it be using electric power, gas or even some form of natural gas. The big problem that has been facing any move to green vehicles has always centered around cost to the consumer with green versions of vehicles costing anywhere from $5,000 and up when compared to their gas guzzling counterparts.

Enter Loremo.

Since 2000 the company has been working hard on a car by the same name. Even though Loremo has yet to produce a production electric vehicle it says that all three of its powertrains should be finished this year. The different powertrains will power 3 different designs of the car. the first version – the base vehicle – will get 120 MPG on a 700 ccm diesel engine that will feature turbo charging, inter-cooling and exhaust gas recycling.

The second model is the GT version with a sportier performance with a 850 ccm engine. As well the car will be able to run on liquefied natural gas (LNG) or pressurized natural gas (PNG).

The final version; and the one closest to production, is Loremo’s take on an ultra-efficient electric motor. Public tests of the Loremo EV are slated to start in March of this year. The price range for all three versions of the vehicle are supposed to range from $22,500 up to $30,000 for the GT model.

If you are so inclined you can keep up with Loremo developments over on the company blog.

[hat tip to EcoGeek]