They’re sexy, sleek, fast, fuel-stingy, and environment-friendly. Such are the adjectives being spouted about the sports cars made by Texas-based Ronn Motor Company, a boutique outfit which trades on the Pink Sheets index under the symbol RNNM. With all the bad news bandied in the automotive industry, the tidings put out by Ronn provide fresh air, in more ways than one.
The flagship vehicle produced by RNNM is the hydrogen-powered Scorpion™, capable of burning up the highway at 200 miles an hour, while getting 40 miles to the gallon. In March, the Scorpion was given the royal treatment by a man known for his love of fancy vehicles – and saving the environment – California Governor Arnold Schwarzenegger, who took the wheel with company CEO Ronn Maxwell alongside him in the passenger side.
Headquartered in Austin, Ronn Motor Company, Inc. (Pink Sheets: RNNM) is a design and manufacturing company focused on the leading edge engineering of environmentally friendly, finely built premium automobiles and technology. These systems include Hydrogen Fuel, Fuel cells, and Plug in-electrics.
In December, just as the financial world was descending into hell – and the car world with it – Ronn announced full-fledged production of the Scorpion at its production facilities in the Austin suburb of Horseshoe Bay, with an eye to producing up to 200 of the Scorpion and Limited Edition Scorpion HX™ during 2009.
The cars made their debut in November at an industry show in Las Vegas, and feature the latest in engine technology from Acura, utilizing the new aluminum and magnesium V-Tech, Type S V-6 motor. This engine produces nearly 300 horsepower stock and with Ronn’s twin turbo option, over 450 horsepower.
The firm is still at that young, enthusiastic stage where it’s not afraid to be bold and take risks. Formed by Maxwell and Adrian Pylypec in the fall of 2007, with the aim of building a truly American exotic car that caters to the alternative fuel market, Ronn soon after took its equally-bold step of going public with the car and the company.
The Acura connection has already been mentioned; RNNM has also forged links with Metalcrafters, an industry leader in body design, prototyping and fabrication, and MOZ wheels, a radical custom wheel builder.
The journey up and down the stock chart has been an interesting one for this Texas-based company. Mere months after going public, in April, RNNM languished in sub-penny country, before hitting the accelerator to its 52-week peak of $6.00 in June. Market conditions applied the brakes in between those two extremes, but no sooner had the governor of the most populous climbed out of the cockpit than the stock began another climb of its own, reaching 34 cents in mid-March, a jump of more than 13 per cent in a single day.
Penny stock bargain sleuths should consider “parking” their pennies in this car maker – one focused on the future, while its bigger brethren are stuck in neutral.
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