Aug,20,2009
U.S. electric vehicle pioneer ZAP (OTCBB: ZAAP) and Malaysia's home grown green technology company, ETI Tech Corporation Berhad (listed on ACE Market of Bursa Malaysia: 0118.KL; ETITECH), jointly announced today their intention to form a manufacturing and distribution joint venture.
ZAP and ETI Tech have signed a binding Memorandum of Understanding (MOU) for the supply of ETI Tech batteries and battery management systems (BMS) for ZAP personal transportation electric vehicles. The two companies have also agreed to joint manufacturing and distribution and expect to execute a definitive agreement within ninety days from the date of signing the MOU.
Under the MOU, ZAP shall provide its personal transportation vehicle line to ETI Tech in Malaysia for the integration of its battery and BMS technology. Well known for its high standard of quality, ETI Tech is entrusted by ZAP to be responsible for the manufacturing and quality assurance of the completed electric vehicles before distribution. ZAP has further agreed to appoint ETI Tech as the distributor of ZAP electric vehicles in Malaysia and other international markets to be determined by the two companies. ETI Tech retains the rights to assign another distributor on behalf of ZAP in Malaysia, but will remain the supplier to the venture.
"ETI Tech is a maker of high quality electronics that are complementary to the strategy ZAP is taking in the market. Not only will this help expand and improve our manufacturing capacity, it opens new markets for ZAP," said CEO Steve Schneider. "We look forward to scaling up production over time to include larger, conventional electric cars and trucks."
Schneider intends to travel to China later this week for discussions with a manufacturer of high quality lithium batteries to secure for the new venture with ETI Tech.
"It is a marvelous occasion and a great opportunity for ETI Tech to be able to work hand-in-glove with a prestigious alternative fuel technology vehicle company such as ZAP," said ETI Tech Executive Director Dennis Chuah. "This joint venture with ZAP marks a new era for ETI Tech and puts ETI Tech on the Green Technology World Map. We are honoured and proud to say that ETI Tech's undying effort is finally recognized after one and a half years of commitment in the R&D of electric vehicles. With a concerted effort from both ETI Tech and ZAP, we will be able to expedite the commercialization of our new range of electric vehicles as planned."
Priscilla M. Lu, Ph.D. to Chair Electric Vehicle Pioneer ZAP Board
Aug,21,2009
SANTA ROSA, California (August 21, 2009) – The board of directors of electric vehicle pioneer ZAP (OTC BB: ZAAP) unanimously elected Priscilla M. Lu, Ph.D. as Chair of its Board of Directors.
Dr. Lu is a 30-year telecommunications and networking executive and entrepreneur formerly with AT&T Bell Laboratories as well as Founder, Chairman and CEO of interWAVE Communications Ltd., and ViDeOnline Communications Ltd.
“We are delighted to have Dr. Lu leading our Board of Directors,” said ZAP CEO Steve Schneider. “With her vision and background, we unanimously agreed her passion, focus and global industry experience in technology companies producing exceptional quality and innovative products are ideally suited for ZAP’s Chair position. Eqbal Al Yousuf was pleased to nominate her and shares the same vision and priorities in the significant opportunities ahead for ZAP. He believes in the same principles of focus and building strong fundamentals, thus monetizing the practical experience base the Company has had through its long history in the electric vehicle industry.”
Dr. Lu, Ph.D. succeeds Eqbal Al Yousuf, who served as Chairman of ZAP since June of 2008. Mr. Al Yousuf will remain a director on ZAP’s board.
“The electric vehicle industry is on a new trajectory invigorated by a sense of urgency and support from both the governments of major nations and the auto industry globally,” said Dr. Lu. “This situation is driven by demands for all alternatives to dependency on oil and strong interest from consumers as well as institutions in need of more ecological and economical alternative energy vehicles. With the recent rapid advancement in battery and motor technologies, we are seeing practical and viable designs for electric vehicles offering a wide range of options in performance and capabilities.”
“ZAP has a long history in electric vehicles and extensive experience in electric power train conversion and new technology integration, so the company is well positioned to take the lead in providing a competitive, durable and quality product line working in partnership with established auto industry players. As Chairperson of ZAP, I will draw on my expertise in technologies and relationships with global partners and clients in this sector to enhance the Company’s product offerings and differentiated value while accelerating its market penetration,” she concluded.
Dr. Lu is currently the Managing Partner and Founder of Cathaya Funds, a global private equity fund based in Silicon Valley and China focusing on international business alliances in China. Its Hong Kong-based Better World International, Ltd. invests and develops electric vehicle technologies and electric fast charge smart grid infrastructure networks for power grid companies. ZAP recently announced Better World International's $25 million investment and financing with the company to help accelerate a multi-stage growth strategy on electric power train technologies, with integration of state of the art battery management systems, battery technologies as well as multi-gear motor engines.
Through her involvement with Cathaya Funds, Dr. Lu also is a principal in the foundation of China Broadband Inc., a company heavily invested in interactive broadband, wireless and cable media programming in China. For the five years prior, Dr. Lu was China Advisor to Mayfield Fund, a forty-year old venture capital firm with over $2.8 billion under management. Dr. Lu helped found GSR Fund for Mayfield, a venture capital fund in China overseeing more that $700 million in investments.
She holds a Ph.D. in Electrical Engineering and Computer Science from Northwestern University and B.S. and M.S. degrees in Computer Science and Mathematics (Honors) from the University of Wisconsin and has over 50 patents in the area of telecommunications and networking.
For more news and information on ZAP, visit www.IRGnews.com/coi/ZAAP where you can find the CEO's video, a fact sheet on the company, investor presentation, and more.
SANTA ROSA, California (August 21, 2009) – The board of directors of electric vehicle pioneer ZAP (OTC BB: ZAAP) unanimously elected Priscilla M. Lu, Ph.D. as Chair of its Board of Directors.
Dr. Lu is a 30-year telecommunications and networking executive and entrepreneur formerly with AT&T Bell Laboratories as well as Founder, Chairman and CEO of interWAVE Communications Ltd., and ViDeOnline Communications Ltd.
“We are delighted to have Dr. Lu leading our Board of Directors,” said ZAP CEO Steve Schneider. “With her vision and background, we unanimously agreed her passion, focus and global industry experience in technology companies producing exceptional quality and innovative products are ideally suited for ZAP’s Chair position. Eqbal Al Yousuf was pleased to nominate her and shares the same vision and priorities in the significant opportunities ahead for ZAP. He believes in the same principles of focus and building strong fundamentals, thus monetizing the practical experience base the Company has had through its long history in the electric vehicle industry.”
Dr. Lu, Ph.D. succeeds Eqbal Al Yousuf, who served as Chairman of ZAP since June of 2008. Mr. Al Yousuf will remain a director on ZAP’s board.
“The electric vehicle industry is on a new trajectory invigorated by a sense of urgency and support from both the governments of major nations and the auto industry globally,” said Dr. Lu. “This situation is driven by demands for all alternatives to dependency on oil and strong interest from consumers as well as institutions in need of more ecological and economical alternative energy vehicles. With the recent rapid advancement in battery and motor technologies, we are seeing practical and viable designs for electric vehicles offering a wide range of options in performance and capabilities.”
“ZAP has a long history in electric vehicles and extensive experience in electric power train conversion and new technology integration, so the company is well positioned to take the lead in providing a competitive, durable and quality product line working in partnership with established auto industry players. As Chairperson of ZAP, I will draw on my expertise in technologies and relationships with global partners and clients in this sector to enhance the Company’s product offerings and differentiated value while accelerating its market penetration,” she concluded.
Dr. Lu is currently the Managing Partner and Founder of Cathaya Funds, a global private equity fund based in Silicon Valley and China focusing on international business alliances in China. Its Hong Kong-based Better World International, Ltd. invests and develops electric vehicle technologies and electric fast charge smart grid infrastructure networks for power grid companies. ZAP recently announced Better World International's $25 million investment and financing with the company to help accelerate a multi-stage growth strategy on electric power train technologies, with integration of state of the art battery management systems, battery technologies as well as multi-gear motor engines.
Through her involvement with Cathaya Funds, Dr. Lu also is a principal in the foundation of China Broadband Inc., a company heavily invested in interactive broadband, wireless and cable media programming in China. For the five years prior, Dr. Lu was China Advisor to Mayfield Fund, a forty-year old venture capital firm with over $2.8 billion under management. Dr. Lu helped found GSR Fund for Mayfield, a venture capital fund in China overseeing more that $700 million in investments.
She holds a Ph.D. in Electrical Engineering and Computer Science from Northwestern University and B.S. and M.S. degrees in Computer Science and Mathematics (Honors) from the University of Wisconsin and has over 50 patents in the area of telecommunications and networking.
For more news and information on ZAP, visit www.IRGnews.com/coi/ZAAP where you can find the CEO's video, a fact sheet on the company, investor presentation, and more.
ZAP Jonway: ZAP Exhibits Its Alias Electric Sports Car in New ...
ZAP Jonway: ZAP Exhibits Its Alias Electric Sports Car in New ...: "October,19,2009NEW YORK, NY, October 19, 2009 – ZAP (OTC BB: ZAAP) of Santa Rosa, California, a developer of electric vehicles and electric ..."
U.S. Military Reorders ZAP Electric Truck Eleven Electric Trucks and Five Charging Stations Going to International Base
September,9,2009
SANTA ROSA, CA--(Marketwire - September 9, 2009) - Electric vehicle pioneer ZAP (OTCBB: ZAAP) has received a follow-on order from the U.S. military for additional Zaptruck XL electric vehicles and charging stations for shipment to a second international base.
The reorder was based on an initial trial order placed in June. The new order includes eleven Zaptruck XLs as well as five 220-volt fast charging stations.
The company also confirmed that ZAP CEO Steven Schneider and Board Chair Priscilla M. Lu have just returned from China where they negotiated expanded manufacturing supply line agreements prompted by increased demand for 100% electric vehicles from corporate and government fleet buyers in the U.S.
According to Amos Kazzaz, ZAP's COO in charge of production and sales, "We have been increasing our production and assembly schedules for the past several months and I expect to see even more ramp-up initiatives in the next quarter."
While the XL trucks are normally equipped with on-board 110-volt or 220-volt smart chargers, the charging stations are specially designed for rapid charging. Like a fuel pump, the electric trucks can pull up and plug in between trips, what is called an "opportunity charge" in the industry. These advanced chargers are designed to charge ZAP trucks almost completely in an hour, enabling the vehicles with much greater range on a daily basis.
ZAP noted a significant increase in interest from fleet buyers over the past several months. In August, the Federal Aviation Administration awarded ZAP a contract for seven ZAP trucks.
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.
SANTA ROSA, CA--(Marketwire - September 9, 2009) - Electric vehicle pioneer ZAP (OTCBB: ZAAP) has received a follow-on order from the U.S. military for additional Zaptruck XL electric vehicles and charging stations for shipment to a second international base.
The reorder was based on an initial trial order placed in June. The new order includes eleven Zaptruck XLs as well as five 220-volt fast charging stations.
The company also confirmed that ZAP CEO Steven Schneider and Board Chair Priscilla M. Lu have just returned from China where they negotiated expanded manufacturing supply line agreements prompted by increased demand for 100% electric vehicles from corporate and government fleet buyers in the U.S.
According to Amos Kazzaz, ZAP's COO in charge of production and sales, "We have been increasing our production and assembly schedules for the past several months and I expect to see even more ramp-up initiatives in the next quarter."
While the XL trucks are normally equipped with on-board 110-volt or 220-volt smart chargers, the charging stations are specially designed for rapid charging. Like a fuel pump, the electric trucks can pull up and plug in between trips, what is called an "opportunity charge" in the industry. These advanced chargers are designed to charge ZAP trucks almost completely in an hour, enabling the vehicles with much greater range on a daily basis.
ZAP noted a significant increase in interest from fleet buyers over the past several months. In August, the Federal Aviation Administration awarded ZAP a contract for seven ZAP trucks.
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.
French Technology Exec to Chair Advisory Board for ZAP Electric Vehicles
September,17,2009
Electric vehicle pioneer ZAP (OTCBB: ZAAP) appointed French technology executive Georges Penalver to chair its advisory board, a move aligned with the U.S. Company's recent focus to expand operations in Europe and Asia.
Mr. Penalver is a 30-plus year management executive with broad international business experience in telecommunications strategy and marketing. Currently he is France Telecom Orange's Senior Executive Vice President, Group Strategy & Development and a member of the France Telecom's Group Management Committee.
ZAP appointed Mr. Penalver to lead the effort in establishing an advisory board to support its recent business expansion, backed in part by financier Jacques de Chateauvieux's Paris-based Jaccar Holdings. The intention is to bring a wide range of backgrounds, real-world experience, networking contacts, best practices and third-party objectivity.
"We are fortunate to have a wealth of world class talent interested in electric transportation and are honored that Georges has accepted a role in marshalling this talent," said Priscilla Lu, Chair for ZAP's board of directors. "Having worked with him I know he brings a great deal of experience, vision and international credentials to advise ZAP's management."
Before joining France Telecom in September 2005, Georges Penalver was Deputy General Manager of SAGEM Communication (SAFRAN group). From 2002 to 2005, he developed SAGEM'S Broadband Communications Business, overseeing the launch of new fixed and mobile product offers, industrial deployment in Tunisia, Asia and Eastern Europe, and the development of sales networks in Europe, China, Southeast Asia, Australia, the Middle East, Africa and the Americas. Appointed to serve on SAGEM's Management Board in 2001, he notably accompanied the mass development of mobile and Internet services.
Mr. Penalver is a graduate of the Ecole Nationale Superieure d'Arts et Metiers in Aix en Provence (gold medal, 1974) and the Ecole Nationale Superieure de Telecommunications in Paris (1980). He is also a Knight of the French Ordre National du Merite.
Mr. Penalver is a 30-plus year management executive with broad international business experience in telecommunications strategy and marketing. Currently he is France Telecom Orange's Senior Executive Vice President, Group Strategy & Development and a member of the France Telecom's Group Management Committee.
ZAP appointed Mr. Penalver to lead the effort in establishing an advisory board to support its recent business expansion, backed in part by financier Jacques de Chateauvieux's Paris-based Jaccar Holdings. The intention is to bring a wide range of backgrounds, real-world experience, networking contacts, best practices and third-party objectivity.
"We are fortunate to have a wealth of world class talent interested in electric transportation and are honored that Georges has accepted a role in marshalling this talent," said Priscilla Lu, Chair for ZAP's board of directors. "Having worked with him I know he brings a great deal of experience, vision and international credentials to advise ZAP's management."
Before joining France Telecom in September 2005, Georges Penalver was Deputy General Manager of SAGEM Communication (SAFRAN group). From 2002 to 2005, he developed SAGEM'S Broadband Communications Business, overseeing the launch of new fixed and mobile product offers, industrial deployment in Tunisia, Asia and Eastern Europe, and the development of sales networks in Europe, China, Southeast Asia, Australia, the Middle East, Africa and the Americas. Appointed to serve on SAGEM's Management Board in 2001, he notably accompanied the mass development of mobile and Internet services.
Mr. Penalver is a graduate of the Ecole Nationale Superieure d'Arts et Metiers in Aix en Provence (gold medal, 1974) and the Ecole Nationale Superieure de Telecommunications in Paris (1980). He is also a Knight of the French Ordre National du Merite.
ZAP Exhibits Its Alias Electric Sports Car in New York City and Competes for Automotive Prize
October,19,2009
NEW YORK, NY, October 19, 2009 – ZAP (OTC BB: ZAAP) of Santa Rosa, California, a developer of electric vehicles and electric power systems, is participating in two events this week in New York City to preview the Alias, its new electric sports car. The ZAP Alias is also in competition with other companies’ vehicles for $10 million in prizes as part of the Progressive Insurance Automotive X PRIZE, set up to foster the development of clean, production-capable vehicles that exceed 100 miles per gallon or energy equivalent.
The Alias is a 100% electric-powered, three-wheeled vehicle designed by ZAP with help from engineers in Detroit and Europe. Powered by an array of lithium batteries, the Alias can top 75 miles per hour on the highway and travel over 100 miles on one charge. It is compatible with any standard 110-volt outlet. Under its “hood” is a compact high-efficiency, air-cooled, AC-induction motor. It carries a list price of $35,000. ZAP expects to announce production plans once it has completed testing and validation.
"The Progressive Insurance Automotive X Prize will be an excellent opportunity to put the Alias through its paces," said Steven Schneider, Chief Executive Officer of ZAP. "We specifically designed the Alias for customers who are in the market for a sports car and who care about energy efficiency. With the Alias and our other products, ZAP is positioned as a leading brand and distribution portal of advanced technology vehicles."
The Alias is one of five car models on display today at an event hosted by the Progressive Insurance Automotive X PRIZE. The event is being held at the Manhattan Classic Car Club at 250 Hudson Street in Manhattan. A free public viewing of the Alias is being held from 2:00pm to 7:00pm.
On Tuesday, October 20, the Alias will once again be on display, this time at an event hosted by ZAP, during which ZAP CEO Steven Schneider will answer queries about the Alias, its innovative and energy-efficient design, and what it offers to the consumer. This event will be held at Manhattan Motorcars at 270 Eleventh Avenue in Manhattan from 11:00am to 1:00pm.
The Alias is a 100% electric-powered, three-wheeled vehicle designed by ZAP with help from engineers in Detroit and Europe. Powered by an array of lithium batteries, the Alias can top 75 miles per hour on the highway and travel over 100 miles on one charge. It is compatible with any standard 110-volt outlet. Under its “hood” is a compact high-efficiency, air-cooled, AC-induction motor. It carries a list price of $35,000. ZAP expects to announce production plans once it has completed testing and validation.
"The Progressive Insurance Automotive X Prize will be an excellent opportunity to put the Alias through its paces," said Steven Schneider, Chief Executive Officer of ZAP. "We specifically designed the Alias for customers who are in the market for a sports car and who care about energy efficiency. With the Alias and our other products, ZAP is positioned as a leading brand and distribution portal of advanced technology vehicles."
The Alias is one of five car models on display today at an event hosted by the Progressive Insurance Automotive X PRIZE. The event is being held at the Manhattan Classic Car Club at 250 Hudson Street in Manhattan. A free public viewing of the Alias is being held from 2:00pm to 7:00pm.
On Tuesday, October 20, the Alias will once again be on display, this time at an event hosted by ZAP, during which ZAP CEO Steven Schneider will answer queries about the Alias, its innovative and energy-efficient design, and what it offers to the consumer. This event will be held at Manhattan Motorcars at 270 Eleventh Avenue in Manhattan from 11:00am to 1:00pm.
ZAP Founder Delivers Keynote Speech on Global Electric Car Trends at KOTRA's Global TransporTech 2010 in Korea
June 9, 2010
DAEGU, South Korea, June 9 /PRNewswire-FirstCall/ -- Gary Starr, founder of electric vehicle pioneer ZAP (OTC Bulletin Board:ZAAP.ob - News), will deliver a keynote speech on global trends in electric vehicles at Global TransporTech 2010, an annual exhibition and conference for the Korean auto industry. With Korean distribution partner Samyang Optics Co. Ltd. (Kospi: 008080.KSE), ZAP is exhibiting its electric taxi and ZAP Alias prototype electric car at the event being held in Daegu, South Korea.
ZAP is participating in the event as a guest of the South Korean Government and the Korea Trade-Investment Promotion Agency (KOTRA). Representatives from KOTRA recently visited ZAP in California to discuss incentives that would support adoption of electric vehicles (EVs) in Korea. Sponsored by KOTRA, Daegu and North Gyeongsang Province, Global TransporTech 2010 is a gathering of the world's leading automotive and heavy equipment buyers. For further information, visit its website: http://www.2010transportech.org.
Earlier this year, ZAP formed a partnership with Samyang Optics to distribute its full line of EVs in Korea. The Korean government has announced plans to offer subsidies, tax benefits and funding allocations for EVs of over 400 billion won (close to US$500 million) managed by Ministry of Knowledge Economy. Over time, ZAP and Samyang Optics expect to develop an assembly process for EVs in Korea to assist the government in job creation. The goal is to eventually source and manufacture the parts and EV components in Korea.
Mr. Starr is delivering the keynote address on "Global issues and trends related with environment-friendly future vehicles" in his presentation entitled "EV Markets & Opportunities." A prolific EV designer and marketer since 1974, Starr has been involved in the production of over 100,000 of a broad range of EV designs. In 1993 Automotive News named Starr among the top ten authorities in the electric car industry. Copies of Starr's presentation are available upon request.
Founded in 1994, ZAP is one of the world's oldest and most experienced electric vehicle providers. For further information about ZAP, visit its blog at http://zapglobal.wordpress.com or its website at http://www.zapworld.com.
ZAP is participating in the event as a guest of the South Korean Government and the Korea Trade-Investment Promotion Agency (KOTRA). Representatives from KOTRA recently visited ZAP in California to discuss incentives that would support adoption of electric vehicles (EVs) in Korea. Sponsored by KOTRA, Daegu and North Gyeongsang Province, Global TransporTech 2010 is a gathering of the world's leading automotive and heavy equipment buyers. For further information, visit its website: http://www.2010transportech.org.
Earlier this year, ZAP formed a partnership with Samyang Optics to distribute its full line of EVs in Korea. The Korean government has announced plans to offer subsidies, tax benefits and funding allocations for EVs of over 400 billion won (close to US$500 million) managed by Ministry of Knowledge Economy. Over time, ZAP and Samyang Optics expect to develop an assembly process for EVs in Korea to assist the government in job creation. The goal is to eventually source and manufacture the parts and EV components in Korea.
Mr. Starr is delivering the keynote address on "Global issues and trends related with environment-friendly future vehicles" in his presentation entitled "EV Markets & Opportunities." A prolific EV designer and marketer since 1974, Starr has been involved in the production of over 100,000 of a broad range of EV designs. In 1993 Automotive News named Starr among the top ten authorities in the electric car industry. Copies of Starr's presentation are available upon request.
Founded in 1994, ZAP is one of the world's oldest and most experienced electric vehicle providers. For further information about ZAP, visit its blog at http://zapglobal.wordpress.com or its website at http://www.zapworld.com.
Cathaya Invests $11 Million in ZAP for Jonway Acquisition
July 12, 2010
SANTA ROSA, Calif., July 12 /PRNewswire-FirstCall/ -- Cathaya Capital, L.P. is investing US$11 million in ZAP (OTC Bulletin Board:ZAAP.ob - News) to finance the 51 percent majority interest acquisition of Zhejiang Jonway Automobile Co. Ltd. upon final closing of the transaction. The new company combines ZAP's 15 years electric vehicle experience with Jonway's ISO 9000 quality auto manufacturing capabilities to accelerate electric car production while opening new markets in China's growing auto industry.
Cathaya invested in ZAP last year with the objective of realizing this opportunity. Since then ZAP has been focused on developing electric vehicle (EV) products for the partnership with Jonway, and also in finalizing this acquisition. Cathaya Capital is a cross border fund aimed at accelerating growth opportunities in China by combining international companies with technologies or global market presence to enhance the competitive edge of high growth potential Chinese companies. It is founded and managed by Dr. Priscilla Lu, a 30-year international technology and manufacturing veteran who now serves as Chairman of the Board of ZAP.
"Together these two companies with their complementary strengths form a new company reinforced by EV technology, mass production manufacturing skills, a strong sales presence in China, and access to international markets," said Dr. Priscilla Lu. "The new team is focused on delivering revenues and profits while expanding international market presence with quality products aimed at addressing new market demands for alternative energy vehicles. We are pleased with China's commitment to reduce pollution and the incentives being put in place that encourage adoption of EVs. With our new company ZAP Jonway, we are well positioned to address this stimulated market."
China has resolved to continue the retooling of China's industries to reduce pollution, according to a July 4 New York Times article. China's goal is to reduce carbon emissions by 40 to 45 percent in 2020 compared with 2005. China's rapidly growing economy has ambitious plans to control pollution and invest in energy efficient technologies like EVs.
About Cathaya Capital, L.P.
Cathaya Capital, L.P. is a cross border fund focused on investing in technology based growth opportunities in China by combining international companies that bring technologies or could give global market presence to high growth potential Chinese companies. The fund works with the ventures to leverage complementary strengths to create global companies with market strengths in China, matching international companies with technology or global market access.
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
SANTA ROSA, Calif., July 12 /PRNewswire-FirstCall/ -- Cathaya Capital, L.P. is investing US$11 million in ZAP (OTC Bulletin Board:ZAAP.ob - News) to finance the 51 percent majority interest acquisition of Zhejiang Jonway Automobile Co. Ltd. upon final closing of the transaction. The new company combines ZAP's 15 years electric vehicle experience with Jonway's ISO 9000 quality auto manufacturing capabilities to accelerate electric car production while opening new markets in China's growing auto industry.
Cathaya invested in ZAP last year with the objective of realizing this opportunity. Since then ZAP has been focused on developing electric vehicle (EV) products for the partnership with Jonway, and also in finalizing this acquisition. Cathaya Capital is a cross border fund aimed at accelerating growth opportunities in China by combining international companies with technologies or global market presence to enhance the competitive edge of high growth potential Chinese companies. It is founded and managed by Dr. Priscilla Lu, a 30-year international technology and manufacturing veteran who now serves as Chairman of the Board of ZAP.
"Together these two companies with their complementary strengths form a new company reinforced by EV technology, mass production manufacturing skills, a strong sales presence in China, and access to international markets," said Dr. Priscilla Lu. "The new team is focused on delivering revenues and profits while expanding international market presence with quality products aimed at addressing new market demands for alternative energy vehicles. We are pleased with China's commitment to reduce pollution and the incentives being put in place that encourage adoption of EVs. With our new company ZAP Jonway, we are well positioned to address this stimulated market."
China has resolved to continue the retooling of China's industries to reduce pollution, according to a July 4 New York Times article. China's goal is to reduce carbon emissions by 40 to 45 percent in 2020 compared with 2005. China's rapidly growing economy has ambitious plans to control pollution and invest in energy efficient technologies like EVs.
About Cathaya Capital, L.P.
Cathaya Capital, L.P. is a cross border fund focused on investing in technology based growth opportunities in China by combining international companies that bring technologies or could give global market presence to high growth potential Chinese companies. The fund works with the ventures to leverage complementary strengths to create global companies with market strengths in China, matching international companies with technology or global market access.
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
news 2006
- Obvio!,Lotus to create multifuel,microsports cars -Dec,26,2006
- Smart car to U.S.? Still a maybe ...... but Zap's still on the case -2006
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news 2008
- ZAP Delivers New 4-Wheel Electric Truck-Nov,25,2008
- ZAP Debuts New Recharge-It-All for Powering iPhone, BlackBerry, Palm and Other Mobile Electronics-Sep,10,2008
- $68 Million in Kentucky Manufacturing Incentives Fast Tracks Electric Vehicle Talks at ZAP Headquarters With Integrity Manufactu-Aug,18,2008
- ZAP CEO and Al Yousuf COO Show Support for Kentucky Governor Signing Executive Order for 40 MPH Electric Car-Aug,6,2008
- Former Pirelli North America CEO Says Time Is Right for Electric Vehicles; Announces International Distribution With ZAP-July,29,2008
- El Pollo Loco Rolls Out ZAP Electric Vehicles for Local Deliveries-Jul,24,2008
- Electric Car Firm ZAP Names New Chairman, Mr. Eqbal Al Yousuf of Dubai-May 27 2008
- Coca-Cola in Uruguay Using ZAP Xebra Trucks to Test New Urban Distribution Model -Jan,23,2008
news 2009
- ZAP Enters China Electric Vehicle Market with Holley Group, the Global Leader in Electric Power Meters-Dec,16,2009
- UPS Leasing a Total of 92 ZAP Electric Trucks-Dec,11,2009
- ZAP Exhibits Its Alias Electric Sports Car in New York City and Competes for Automotive Prize-Oct,19,2009
- French Technology Exec to Chair Advisory Board for ZAP Electric Vehicles-Sep,17,2009
- U.S. Military Reorders ZAP Electric Truck -Sep,9,2009
- Priscilla M. Lu, Ph.D. to Chair Electric Vehicle Pioneer ZAP Board-Aug,21,2009
- ZAP and ETI Tech of Malaysia Sign Binding MOU for Electric Vehicle Joint -Aug,20,2009
- ZAP Shipping Trucks to United States Military-June,16,2009
- ZAP Elects Vetran Toyota Manufacturing Exec to Board-Jun,9,2009
- ZAP Cheers Electric Car Tax Credits in Stimulus Act-Feb,18,2009
- ZAP to Introduce Electric Van and Truck at Nation's Largest Auto Dealer Expo January 24-Jan,23,2009
ZAP Delivers Fleet of Electric Trucks
August 4, 2010
SANTA ROSA, Calif.--(BUSINESS WIRE)--Electric vehicle pioneer ZAP (OTCBB:ZAAP - News) today announced that its newest dealer, Alvarez ZAP, has opened in Riverside, California and will be serving commercial and government markets throughout the entire Inland Empire.
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Alvarez ZAP has delivered its first shipment of six electric trucks to the City of Riverside during a Grand Opening press conference last week. While accepting keys to one of the vehicles, Riverside Mayor Ron Loveridge said, “Today we take another step forward in the greening of Riverside by transitioning from gas to electrically operated vehicles. We are proud to add ZAP trucks to our fleet.”
Dealer president, Ramon Alvarez is widely recognized as one of the leading Hispanic entrepreneurs in the Inland Empire through his long time affiliation with Lincoln, Mercury and Jaguar. Also attending the Grand Opening were six City Councils members and the City Manager as well as Joel Ayala representing the Governors’ office of Economic Development.
Governor Arnold Schwarzenegger appointed Alvarez to the New Motor Vehicle Board in March 2007 and Alvarez is now a Vice President of that organization. He stated, “As a member of the New Motor Vehicle Board, I have seen the evolution of alternative energy vehicles to the point where they are moving into the automotive mainstream and I believe ZAP represents the best opportunity to capitalize on that trend.”
Commenting on Alvarez’s decision to become the newest ZAP electric vehicle dealer, ZAP CEO Steven Schneider said, “Ramon has passion and understanding…he genuinely gets it. He knows the importance that new energy vehicles play today and in the marketplace of tomorrow.”
Zapping high fuel costs
July 28, 2010 By TIFFANY RAY
Expanding electric car company gains a dealership in the Inland Empire
Electric vehicles are on their way to Riverside with the opening of the Inland region's first Zap dealership.
Ramon Alvarez C., owner of Alvarez Jaguar and Alvarez Lincoln-Mercury in the Riverside Auto Center, has opened Alvarez Zap alongside his other businesses with plans to market the company's existing lineup of low-speed vehicles primarily to commercial buyers, and to be a part of Zap's next step into the consumer market.
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"I've always wanted to expand my business, and I've been watching Zap for the last 15 years," Alvarez said. "It's a growing company."
With the new dealership, Alvarez becomes the Zap distributor for the Inland region, parts of Los Angeles County, and Mexico, said Jeff Gettys, a district manager for Zap in Laguna Niguel.
The dealership officially opened about a week ago, Alvarez said.
So far, there are few telltale signs of its presence, save for a row of small, gleaming white trucks lining one wall at the back of Alvarez' existing dealership. But Zap has already landed its first customer -- the city of Riverside, which has purchased a half dozen electric Zaptruck XL vehicles. The city will take delivery during a grand-opening ceremony Thursday at the dealership.
Riverside Mayor Ron Loveridge said the new Zap trucks would join the city's increasingly fuel-efficient fleet.
"We want to be a place where electric vehicles are used, both in terms of fleets and in terms of customer choice," he said Santa Rosa-based Zap began in 1994 as a manufacturer of electric bicycle kits in Sebastopol and today sells electric vehicles around the world. There are about 60 Zap dealerships around the U.S., Gettys said. Alvarez Zap is the 15th California location.
In addition to the Zaptruck XL, the company offers a shuttle van, a three-wheeled scooter and two-wheeled motorbike and an electric ATV they call "The Dude." The products retail for anywhere from about $400 to $15,000.
The company also is in the process of purchasing a majority stake in Jonway, the China-based manufacturer of Zap vehicles.
Economic troubles have taken a huge toll on the auto industry in recent years, but for Zap, Alvarez said, "I think the future is wide open.
Economic troubles have taken a huge toll on the auto industry in recent years, but for Zap, Alvarez said, "I think the future is wide open.
The whole auto industry wants to be more environmentally responsible, and you're hearing a lot of that in the media.
The difference is that Zap is producing cars right now."
In addition to helping to reduce air pollution, electric vehicles cost only 2 cents per mile to fuel, he said. "Clearly, there is a demand in the consumer base for these types of cars."
Alvarez is expecting a new shipment of vehicles next week and plans to reconfigure his existing dealerships to make space for a Zap showroom.
Karl Brauer, a senior analyst for Edmunds.com, said electric vehicles have been a niche product for a long time, but have gotten more attention in recent years, and the major manufacturers are taking notice.
"I just don't think you can deny the desire to have a car like that," he said.
"We're at the very beginning of this process, but I think it's going to move more quickly in the next five years than in the past 25."
Zap electric car cruises Las Vegas for Domino's pizza delivery
May,9,2007 By Sebastian Blanco
Get the door, it's a three-wheeled electric car.
Get the door, it's a three-wheeled electric car.
This week, in Las Vegas (where else?), Domino's Pizza started testing pizza deliveries using Zap! Xebras. The Chicago-based Electric Vehicle Company supplied the Xebras to Domino's for use in the company's Worldwide Rally. The test is being explained as both an environment- and cost-saving move, and Jim Stansik, Domino's executive vice president of Franchise Development, said in a statement that, "Today it is not uncommon to have your Domino's pizza delivered by bicycle, scooter or car around the world. Looking toward tomorrow, Domino's is committed to also being a responsible consumer of our planet's natural resources by testing the feasibility of using electric vehicles in our stores." Zap! CEO Steve Shneider spoke about the Domino's partnership when he was on CNBC last week. And Autoblog likes it, too.
No word on how the tests went, but I hope people tipped the EV driver well. There are two more pictures of the Zapizza car after the jump.
No word on how the tests went, but I hope people tipped the EV driver well. There are two more pictures of the Zapizza car after the jump.
Coca-Cola in Uruguay Using ZAP Xebra Trucks to Test New Urban Distribution Model
23 January 2008
The Coca-Cola Company and ZAP announced a project to use 30 ZAP Xebra compact all-electric trucks to test a new urban distribution system in Montevideo, Uruguay. Officials from Coca-Cola subsidiary Montevideo Refrescos SRL (Monresa) and ZAP say that they are also testing new efficient motors as part of the project.
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| Larger delivery vans will transfer Coca-Cola shipments into 30 ZAP Xebra trucks for delivery into congested areas in Montivideo. Click to enlarge |
Monresa has received the initial order for 30 ZAP Xebras and is now placing them into service delivering beverages throughout Montevideo. The ZAP Xebras will be incorporated into a mobile distribution hub model in which larger delivery trucks will no longer be used throughout the city, but will transfer beverages into ZAP trucks at distribution hubs.
Modified with enclosed, lockable beds, the ZAP Xebras will navigate the narrower inner-city streets to make deliveries to smaller retail locations. Because the ZAP trucks will operate more easily in this environment, officials from Coca-Cola say their drivers can deliver vehicles and collect payment at the same time, whereas collections were not practical with the larger trucks.
If successful, Coca-Cola may expand their use to large cities around the world where rising gas prices, traffic congestion, pollution and parking shortages restrict the use of large delivery trucks. Officials say that the new distribution model using these trucks averages about one-fifth the fuel consumption of the former model.
Coca-Cola’s distribution model is similar to the one used recently by United Parcel Service (UPS) in Northern California in which a fleet of 42 ZAP trucks and sedans were used to expand small parcel deliveries during peak holiday demand. UPS delivery vans transferred smaller packages to a locked storage unit, then a Xebra transports the packages into dense urban and residential areas where parking and traffic are easier for the smaller vehicles.
ZAP is expanding the distribution for the Xebra worldwide as part of a strategic partnership with Shandong Jindalu vehicle company of China. ZAP is now distributing the cars and trucks designed for city-speed transportation. ZAP recently formed a joint venture with one of China’s newest car companies, Youngman Automotive Group, to manufacture electric and hybrid cars, buses and trucks.
Modified with enclosed, lockable beds, the ZAP Xebras will navigate the narrower inner-city streets to make deliveries to smaller retail locations. Because the ZAP trucks will operate more easily in this environment, officials from Coca-Cola say their drivers can deliver vehicles and collect payment at the same time, whereas collections were not practical with the larger trucks.
If successful, Coca-Cola may expand their use to large cities around the world where rising gas prices, traffic congestion, pollution and parking shortages restrict the use of large delivery trucks. Officials say that the new distribution model using these trucks averages about one-fifth the fuel consumption of the former model.
Coca-Cola’s distribution model is similar to the one used recently by United Parcel Service (UPS) in Northern California in which a fleet of 42 ZAP trucks and sedans were used to expand small parcel deliveries during peak holiday demand. UPS delivery vans transferred smaller packages to a locked storage unit, then a Xebra transports the packages into dense urban and residential areas where parking and traffic are easier for the smaller vehicles.
ZAP is expanding the distribution for the Xebra worldwide as part of a strategic partnership with Shandong Jindalu vehicle company of China. ZAP is now distributing the cars and trucks designed for city-speed transportation. ZAP recently formed a joint venture with one of China’s newest car companies, Youngman Automotive Group, to manufacture electric and hybrid cars, buses and trucks.
UPS Leasing a Total of 92 ZAP Electric Trucks
December 11, 2009
SANTA ROSA, CA - For the third year in a row, UPS has leased a fleet of electric trucks from ZAP to help with deliveries to urban and residential communities in the Bay Area, according to the vehicle manufacturer.
The 25 ZAP electric trucks will help UPS drivers to more easily schedule delivery routes in neighborhoods and dense urban areas where congestion and parking restrictions present potential problems for larger UPS vans. UPS has leased 92 electric vehicles from ZAP since 2007 to assist with increased delivery needs during November and December.
For the past several years, ZAP has been targeting fleet applications for electric vehicles and says the experience with UPS starting in 2007 continues to provide an example to the fleet industry about the benefits of electricity.
Other fleets that currently operate ZAP vehicles include the U.S. military, the Federal Aviation Administration, restaurant chain El Pollo Loco, and Bexar County, Texas.
SANTA ROSA, CA - For the third year in a row, UPS has leased a fleet of electric trucks from ZAP to help with deliveries to urban and residential communities in the Bay Area, according to the vehicle manufacturer.
The 25 ZAP electric trucks will help UPS drivers to more easily schedule delivery routes in neighborhoods and dense urban areas where congestion and parking restrictions present potential problems for larger UPS vans. UPS has leased 92 electric vehicles from ZAP since 2007 to assist with increased delivery needs during November and December.
For the past several years, ZAP has been targeting fleet applications for electric vehicles and says the experience with UPS starting in 2007 continues to provide an example to the fleet industry about the benefits of electricity.
Other fleets that currently operate ZAP vehicles include the U.S. military, the Federal Aviation Administration, restaurant chain El Pollo Loco, and Bexar County, Texas.
El Pollo Loco Rolls Out ZAP Electric Vehicles for Local Deliveries
24. Jul, 2008 by webmestre
“People stop in their tracks and can’t stop staring at these cars wrapped with the El Pollo Loco branding. Not only does it make a statement about driving electric vehicles, it acts like a green billboard for the restaurant,” says Karen Eadon, El Pollo Loco’s chief marketing officer. “One of our drivers arrived at an office recently where more than 20 people came out to take pictures of the car. The vehicle draws an incredible amount of attention.”
El Pollo Loco on the hood of a ZAP Xebra electric city carEl Pollo Loco on the hood of a ZAP Xebra electric city carAAA reported Monday that the national average price for a gallon of regular gas rose to an all-time high of $4.108, up slightly from the previous record of $4.107. Gas prices have soared more than 38% in the last year and are 3% higher than a month ago.
El Pollo Loco purchased the Xebra electric vehicles from Santa-Rosa-based ZAP, a company that offers a full line of electric and advanced technology vehicles. With a top speed of 40 miles per hour, the Xebra is 10 feet long, 5 feet wide, and slightly over 5 feet high with a carrying capacity of 1,000 pounds. It plugs into a 110-volt outlet for a full charge in up to six hours and a 50 percent charge in up to 1.5 hours. It comes in either a 4-door sedan or a pickup. The average range on a single charge is up to 25 miles. The cost to run a Xebra, which retails for about $12,000, is about three cents a mile, compared to 13.3 cents a mile for a gas vehicle that gets 30 miles per gallon at $4 a gallon. Maintenance costs are one-third that of gas vehicles due to the reduction of moving parts, less wear, and replacements.
El Pollo Loco ZAPs Gas Prices with Electric Delivery CarsEl Pollo Loco ZAPs Gas Prices with Electric Delivery CarsZAP says the demand for its electric vehicles has skyrocketed with record gas prices. In April, ZAP reported it had delivered over 700 units in the United States and in May they reported a $6.8 million backlog for the Xebra, more than the Company’s sales for all of last year. ZAP officials say orders have even surpassed their own projections. Most of the demand initially has been from consumers, but recent gas prices are causing many corporate and government fleet buyers to start exploring the use of electric vehicles.
“We would like to congratulate El Pollo Loco for its environmental leadership,” said ZAP CEO Steve Schneider. “With gas at record high prices, we offer companies the chance to lead the way in energy conservation. Not only do the electric vehicles send a green message, our technologies have the potential to significantly impact a company’s bottom line and impact the economy as a whole,” says ZAP CEO Steve Schneider.
El Pollo Loco recently expanded into New England, where it celebrated its 400th location in the Boston area in May. Throughout 2008, El Pollo Loco is continuing expansion into other markets around the country, including California, Arizona, Utah, Oregon, Washington, Georgia, Illinois, Missouri, New Jersey and Virginia.
About ZAP
ZAP has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, electric, hybrid and other innovative power systems, ZAP has a joint venture called Detroit Electric to manufacture electric and hybrid vehicles with Youngman Automotive Group. Detroit Electric is developing a freeway capable electric vehicle called the ZAP Alias. ZAP is also developing a new generation of vehicles using lithium batteries. The Company recently announced a strategic partnership with Dubai-based Al Yousuf Group to expand its international vehicle distribution. ZAP also makes an innovative, new portable energy technology that manages power for mobile electronics from cell phones to laptops. For product, dealer and investor information, visit http://www.zapworld.com.
BEVERLY HILLS, CA — Jul 8, 2008 — As gas prices hit record levels again across the nation this week, restaurant chain El Pollo Loco is driving its marketing efforts in a new way — literally — through the rollout of two electric delivery vehicles from ZAP (OTC BB:ZAAP.OB).
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El Pollo Loco, the nation’s leader in flame-grilled chicken, now employs a pair of three-wheel, sub compact electric cars covered in bumper-to-bumper brand messaging and emblazoned with scorching red flames against a purple background. With over 400 fast casual restaurants, El Pollo Loco was searching for a delivery vehicle that would act as a moving billboard for the restaurant’s new delivery and catering restaurant in the Beverly Hills and Century The electric cars were wrapped with El Pollo Loco’s branding.The electric cars were wrapped with El Pollo Loco’s branding.City areas, as well as contribute to the company’s environmental stewardship efforts. The unique electric cars make an eye-catching statement as they whirr quietly down the street with El Pollo Loco’s corporate branding wrap. Studies show electric vehicles produce 97 percent less emissions than a gas-powered vehicle. A single electric vehicle driven for 30 miles a day in place of a gas vehicle saves about 700 gallons of gas per year.
“People stop in their tracks and can’t stop staring at these cars wrapped with the El Pollo Loco branding. Not only does it make a statement about driving electric vehicles, it acts like a green billboard for the restaurant,” says Karen Eadon, El Pollo Loco’s chief marketing officer. “One of our drivers arrived at an office recently where more than 20 people came out to take pictures of the car. The vehicle draws an incredible amount of attention.”
El Pollo Loco on the hood of a ZAP Xebra electric city carEl Pollo Loco on the hood of a ZAP Xebra electric city carAAA reported Monday that the national average price for a gallon of regular gas rose to an all-time high of $4.108, up slightly from the previous record of $4.107. Gas prices have soared more than 38% in the last year and are 3% higher than a month ago.
El Pollo Loco purchased the Xebra electric vehicles from Santa-Rosa-based ZAP, a company that offers a full line of electric and advanced technology vehicles. With a top speed of 40 miles per hour, the Xebra is 10 feet long, 5 feet wide, and slightly over 5 feet high with a carrying capacity of 1,000 pounds. It plugs into a 110-volt outlet for a full charge in up to six hours and a 50 percent charge in up to 1.5 hours. It comes in either a 4-door sedan or a pickup. The average range on a single charge is up to 25 miles. The cost to run a Xebra, which retails for about $12,000, is about three cents a mile, compared to 13.3 cents a mile for a gas vehicle that gets 30 miles per gallon at $4 a gallon. Maintenance costs are one-third that of gas vehicles due to the reduction of moving parts, less wear, and replacements.
El Pollo Loco ZAPs Gas Prices with Electric Delivery CarsEl Pollo Loco ZAPs Gas Prices with Electric Delivery CarsZAP says the demand for its electric vehicles has skyrocketed with record gas prices. In April, ZAP reported it had delivered over 700 units in the United States and in May they reported a $6.8 million backlog for the Xebra, more than the Company’s sales for all of last year. ZAP officials say orders have even surpassed their own projections. Most of the demand initially has been from consumers, but recent gas prices are causing many corporate and government fleet buyers to start exploring the use of electric vehicles.
“We would like to congratulate El Pollo Loco for its environmental leadership,” said ZAP CEO Steve Schneider. “With gas at record high prices, we offer companies the chance to lead the way in energy conservation. Not only do the electric vehicles send a green message, our technologies have the potential to significantly impact a company’s bottom line and impact the economy as a whole,” says ZAP CEO Steve Schneider.
El Pollo Loco recently expanded into New England, where it celebrated its 400th location in the Boston area in May. Throughout 2008, El Pollo Loco is continuing expansion into other markets around the country, including California, Arizona, Utah, Oregon, Washington, Georgia, Illinois, Missouri, New Jersey and Virginia.
About ZAP
ZAP has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, electric, hybrid and other innovative power systems, ZAP has a joint venture called Detroit Electric to manufacture electric and hybrid vehicles with Youngman Automotive Group. Detroit Electric is developing a freeway capable electric vehicle called the ZAP Alias. ZAP is also developing a new generation of vehicles using lithium batteries. The Company recently announced a strategic partnership with Dubai-based Al Yousuf Group to expand its international vehicle distribution. ZAP also makes an innovative, new portable energy technology that manages power for mobile electronics from cell phones to laptops. For product, dealer and investor information, visit http://www.zapworld.com.
ZAP Electric Trucks Added to FAA Fleet
August 13, 2009
WASHINGTON - Electric vehicle company ZAP will supply the Federal Aviation Administration (FAA) with a fleet of Zaptruck XL, a versatile 100-percent plug-in electric truck. The FAA will take delivery of the vehicles in September at a major metro center in the Midwest.
ZAP CEO Steven Schneider said the company has been responding to a large number of municipal and governmental RFQs for vehicles of a similar nature, delivering to cities, counties, hospitals, colleges, park districts, corporations, and small businesses.
Schneider said the FAA's initial order for Zaptruck XLs was placed through a ZAP specialty dealer, a certified SDVOSB (Service-connected Disabled Veteran Owned Small Business) supplier in Southern California.
The El Pollo Loco restaurant chain uses ZAP Xebras in its delivery fleet.
Schneider said the FAA's initial order for Zaptruck XLs was placed through a ZAP specialty dealer, a certified SDVOSB (Service-connected Disabled Veteran Owned Small Business) supplier in Southern California.
The El Pollo Loco restaurant chain uses ZAP Xebras in its delivery fleet.
Obvio!, Lotus to create multifuel, microsports cars
By Chris Tutor Date Dec,26,2006
It's really easy to get excited when you hear Lotus is teaming up with a Brazilian carmaker to produce a small (89" wheelbase), light (1,648 lbs), three-seat sportscar called the 012. Then to hear it gets 40 mpg on the highway from its 1.6L 4 cylinder and offers a choice of paddle-shifted CVT or 6-speed manual and it's starts to sound very interesting especially when the list base price is only $28,000! And there's more? Sportier models offer 170 hp, and 250 hp Tritec engines. With that power to weight ratio, you'll be the Autocross king! My god, that's better than the GT3, the Sport Exige and even better than the Caterham
If only you didn't live in the lawsuit-happy U.S.A . With luck, you'll get to drive it on your vacation to Brazil next summer.
Cancel the trip, because ZAP!, the company importing the first Smart cars into the States, has signed a contract with Obvio to buy 50,000 of their little funcars over three years beginning in 2008. There will also be an electric plug-in version of the car, with 0-60 times in the 4.5 second range, a top speed of 120 mph and a starting price of $59,000.
If you like your sporty economy cars to look more econ than sport, check out the Obvio 828 and more details on both models after the jump.
R400! Those numbers, according Obvio, the company planning the 012, are attained while running ethanol or compressed natural gas. Pump good old gasoline into the tank and see a 10% boost!
If only you didn't live in the lawsuit-happy U.S.A . With luck, you'll get to drive it on your vacation to Brazil next summer.
Cancel the trip, because ZAP!, the company importing the first Smart cars into the States, has signed a contract with Obvio to buy 50,000 of their little funcars over three years beginning in 2008. There will also be an electric plug-in version of the car, with 0-60 times in the 4.5 second range, a top speed of 120 mph and a starting price of $59,000.
If you like your sporty economy cars to look more econ than sport, check out the Obvio 828 and more details on both models after the jump.
Smart car to U.S.? Still a maybe ...... but Zap's still on the case
2006
DaimlerChrySler stillhasn't decided whether Smart will come to the United States despite promises that an announcement would be made at the Geneva auto show. But it seems to be leaning toward yes.
Said Ulrich Walker, head of Smart: "We are close. ...We will decide within the next weeks."
But Walker pointed to a comment DaimlerChrysler CEODieter Zetsche made to a German reporter last week: "It is now more likely that we will decide in favor of rather than against (entering) the U.S."
Zetsche also said DaimlerChrysler still is entertaining offers of joint cooperation and even the outright sale of Smart, but he wouldn't say which companies have expressed an interest.
U.S. distribution would be a thorny issue. Mercedes-Benz disbanded its project to name dealers in the United States after DaimlerChrysler's previous management decided against U.S. Smart sales. Mercedes now is considering whether Smart should be sold only in areas of the country where the tiny car would be popular, a spokesman said recently.
Wannabe small-car importer Zap is making waves again.
Last spring the company placed an out-of-the blue order with DalmlerChrysler for $1 billion worth of Smart cars. But it was stiff-armed by the automaker, which said it had doubts about Zap's ability to pay. Zap, deeply offended, smacked DaimlerChrysler with a $500 million lawsuit last fall.Although Smart says it wants nothing to do with Zap, the California company says it's doing an end run around the auto giant by procuring Smart cars from thirdparty brokers it wouldn't identify. Zap said last week that it has delivered 85 Smart cars to U.S.dealers, and CEOSteve Schneider said the company has 250 it's preparing to deliver this month.
Zap spokesman AlexCampbell says the company has" about a dozen" dealers, but he said he didn't know the exact number.
At least one of them - Sue McFarland of McFarland Ford in Exeter, N.H.- is a new-vehicle dealer. She said she sold the one Smart that Zap provided last summer and iswillingto take fivemore.
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