Corporate Fleet Business on Upswing as Well
SANTA ROSA, CA -- (Marketwire) -- 06/16/09 -- Electric vehicle pioneer ZAP (OTCBB: ZAAP)
confirmed today they have begun shipping their Zaptruck XLs, a versatile
100% plug-in electric LSV, to several US military bases in the US and in
international locations.
According to Amos Kazzaz, ZAP's Chief Operating Officer in charge of
production, "Our Zaptruck XL has captured a significant market share in
what is becoming a high demand/high growth segment of the EV marketplace.
These orders and continued strong dealer demand have resulted in our
ramping up higher production which is a manageable and nice problem to deal
with."
ZAP recently announced the addition of enclosed and weatherproof box
options for the XL featuring full length side doors with tinted windows,
discrete tool bins, space-saving roll-up doors and a top-mounted utility
rack.
"These new box options for the XL are fabricated in the US and installed in
our assembly plant in California," said Steve Schneider, ZAP Chief
Executive Officer. He added, "Because the XL qualifies for the Federal tax
credit under President Obama's stimulus program, the net purchase price is
affordable, attractive and very competitive."
The US government has publicly announced plans to purchase more than $300
million worth of energy efficient and alternative fuel vehicles through the
GSA.
ZAP has been flooded with bid solicitations from city, county and state
government buying authorities wishing to accelerate their adoption of
"green" transportation initiatives and whose previous budget constraints
have now been lifted.
ZAP plans to expand its domestic manufacturing capability through an
exclusive contract with Zap Motors Manufacturing in Kentucky. That company
has applied to the U.S. Department of Energy (DOE) for a $200 million
Advanced Technology Vehicles Manufacturing loan to build its Kentucky
plant. DOE will be allocating $25 billion in such loans to qualified
carmakers and suppliers who can build advanced technology vehicles in the
U.S.
About ZAP
ZAP has been a leader in electric transportation since 1994, delivering
over one hundred thousand vehicles to consumers in more than seventy-five
countries. ZAP manufactures a line of electric vehicles, including electric
city-cars and trucks, motorcycles, scooters, and ATVs. ZAP sells some of
the only electric city-speed cars, trucks and vans in production today and
is developing a freeway capable electric vehicle called the ZAP Alias.
Forward-Looking Statement
This press release contains forward-looking statements. Investors are
cautioned that such forward-looking statements involve risks and
uncertainties, including, without limitation, continued acceptance of the
Company's products, increased levels of competition for the Company, new
products and technological changes, the Company's dependence upon
third-party suppliers, intellectual property rights, and other risks
detailed from time to time in the Company's periodic reports filed with the
Securities and Exchange Commission.
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