Exhibit 10.4

                        INTERNATIONAL BUSINESS CONTRACT

THIS  CONTRACT  is  made  and  entered  into  as  of  15th  FEB  2008  between:

LEO MOTORS INC -ex: Leozone Inc. (as "PARTY A")
1004-13, Docksan-Dong, Gumcheon-Gu, Seoul, Korea

And

LEO MOTORCARS (THAILAND) CO.,LTD. (as "PARTY B")
999/2 Moo 6 Taparak Rd.,
Teparak, A,Muang, Samutprakan 10270
Thailand


                                   WITNESSETH

Based  on  preliminary  MOU,  This  International Business Contract (hereinafter
referred  to  as  "IBC')  is  made  and entered into as of 15th Feb, 2008 by and
between LEO MOTORS INC, a corporation duly organized and existing under the laws
of  Republic  of Korea and having its principal office at 1004-13, Docksan-Dong,
Gumcheon-Gu.  Seoul,  Korea(hereinafter  referred  to  as  "PARTY  A")  and  LEO
MOTORCARS  (THAILAND)CO.,LTD.,  a  corporation duly organized and existing under
the  laws of Thailand and having its principal office at 999/2 Moo 6 Teparak Rd,
Teparak,  A.  Muang,  Samutprakarn  10270  Thailand.(hereinafter  referred to as
"PARTY  B").

WHEREAS,  PARTY  A  engages in the development, manufacture and sale of Electric
Vehicles  (hereinafter "EV") and possesses certain technical information related
to  EV;  and

WHEREAS,  PARTY  B  currently  sales  many  different  models  of vehicle and is
interested  in  cooperative  relationship  with  Party  A;  and

WHEREAS,  BOTH  PARTIES  wish  to  clarify  international business contract with
regards  to  the  contents  discussed  and  consented on 15th Feb 2008 and their
further  business  relationship.

NOW,  THEREFORE,  inconsideration  of  the  foregoing  premises  and  the mutual
covenants  and  conditions  contained  herein,  both  parties  agree as follows:


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1.  COOPERATION  AND  INVESTMENTS

Leo Motorcars (Thailand ) Co.,Ltd.-LMT has follow: Party B has 51%, Party A has
49% of shares, both parties have 2 executives to be member of Board of Director,
and party B will name its CEO. And both parties agree to pay contribution to
capital investment of USD 100,000.- each by middle of March 2008. Additional
investment terms would be decided later.


The Parties agree to exert all efforts to fulfill their jobs assigned as seen in
a table below to implement the Project.

Job Assignment for Party A
--------------------------

-    To develop and finish working prototype of 3-wheels Electric Motorcycle
     (1st Project) by end of March 2008 and delivery to LMT.

-    To help of mass production of 1st Project.

-    An offer all the Leo Motors pro ducts and solution parts (Motor ,
     Controller, Charger etc,.) to L MT and also provide technical support and
     instruction to after sales service technicians.

-    To help homologations in Thail and.


Job Assignment for Party B
--------------------------

-    Preparation of a business plan of the Project with cash flow manag ement
     and import 2units of 3-wheels electric motorcycles and p rocess it's mass
     production in Thailand (Alloy chassis and PIastic Parts etc,.)

-    To analysis of profitability of the projects and progress sales and export.

-    To distribute Leo Motors' Products and open dealers and after sales service
     centers.

-    To open web-site by end of April 2008.

-    To register and process homologations of products for Thailand

Both Parties will do their best effort to make significant progress.

2. PRODUCTS

Party A and Party B agree to manufacture and sales electric vehicles in
Thailand. 1st Project of 3-wheel Electric Motorcycle for Thai police department
with price about USD 8,000-. First year sales estimation is 500-units minimum in
Thailand.

<PAGE>
2nd  Project- Development of "Electric TokTok-Bajai Taxi" for Thailand Market
and also for International Markets.

Party B can sales all the Leo motors products in Thailand and both companies
cooperate new project for Thailand or world.

3. SALES

The LMT will have sole agent-ship for Leo Motors products in Thailand. Both
parties will do their best efforts to export products from the LMT.

4. MISCELLANEOUS

     - Both Parties agree to keep in strict confidence and not to disclose or
reveal the Confidential Information to anyone other than Relevant Persons on an
as needed basis.

     Both Parties agree that this IBC is not intended to be a complete statement
of their agreement with respect to the Business cooperation and is not binding
upon the Parties.


\s\ Jung Yong Lee                    \s\ Ekasit Kunanantakul
-----------------                    -----------------------
Mr. Jung Yong Lee                    Mr. Ekasit Kunanantakul
Legal Representative                 Legal Representative
Leo Motors Inc.                      Leo Motorcars (Thailand) Co., Ltd.
(THE "PARTY A")                      (THE "PARTY B")

DATE:  15th  Feb  2008               DATE:  15th Feb  2008