Seasoned Management Team Poised for Growth
SANTA ROSA, CA -- (Marketwire) -- 06/18/09 -- ZAP (OTCBB: ZAAP) CEO Steven Schneider has
named Gary Dodd, a respected manufacturing executive formally with Toyota,
as president of global operations. This recent move is seen as another step
in Mr. Schneider's plan to introduce U.S.-built electric vehicles to the
masses.
According to Mr. Schneider, "Gary will bring serious depth and breadth to
our management team where each senior executive has separate and distinct
responsibilities, such as operations, finance, marketing, and now
front-line, manufacturing expertise. Gary will guide us into volume
production."
Mr. Dodd joins the management team alongside Amos Kazzaz, who became ZAP
COO. Mr. Kazzaz had spent more than twenty-four years in executive
positions with United Airlines including president of United Airlines
Shuttle where he had oversight of more than two thousand employees. "Amos
is responsible for maintaining efficient operations, our CFO Bill Hartman
is a seasoned CPA with SEC experience, and I know how to position, market,
and sell vehicles... lots of them," Schneider concluded.
"ZAP will creatively work with American automobile suppliers to build
affordable and appealing electric vehicles for American consumers and
customers worldwide," Mr. Dodd said. "We are going to dramatically expand
ZAP's leadership in the electric vehicle marketplace."
Mr. Dodd has applied to the U.S. Department of Energy (DOE) on behalf of
Zap Motor Manufacturing for a $200 million Advanced Technology Vehicles
Manufacturing Loan to build an electric vehicle assembly plant. "We are
very optimistic that the company's loan application will receive funding
from the DOE," Mr. Dodd said. "Another key part of our strategy is the
sizeable competitive advantage we will enjoy because of our close proximity
to two proposed Kentucky-based facilities that will be critical to the
future of electric vehicles in the United States," he added.
"Argonne National Laboratory has announced that it will build a national
battery manufacturing R&D Center in Kentucky, in an innovative partnership
with the State of Kentucky, the Universities of Kentucky, and Louisville.
In addition, the National Alliance for Advanced Transportation Batteries,
of which we are a member, has announced its intent to build its
manufacturing facility in Central Kentucky as well. With both cutting edge
facilities within an easy drive of the future manufacturing site, our
supply and R&D chains will become the envy of the industry," said Mr. Dodd.
In 1998 Mr. Dodd founded his own business with the encouragement and
support of Toyota and grew annual revenues to over $700 million by
supplying Tier One, just-in-time, and sequenced automotive components from
its eleven manufacturing facilities to Toyota, Honda, Nissan, BMW,
Mercedes, Hyundai, Ford, and General Motors.
For more news and information on ZAP, please visit www.IRGnews.com/coi/ZAAP
where you can find the CEO's video, a fact sheet on the company, investor
presentations, and more.
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.
Contact:
Investor Relations Group
212-825-3210
Investor Relations
Rachel Colgate or Michael Crawford
Media Relations
Laura Colontrelle