FRANKFORT, KY-- Steve Schneider, CEO for ZAP (OTC BB:ZAAP.OB) and Ashraf Saeed, COO of the Al Yousuf Group, stood by while Governor Steve Beshear yesterday signed an Executive Order directing the Transportation Cabinet to immediately develop and implement an emergency regulation authorizing the use of low-speed electric vehicles on Kentucky's roadways, including the Xebra, a 40 MPH electric car and truck. ZAP CEO Steve Schneider and Al Yousuf COO Ashraf Saeed (2nd and 3rd from right) witnessed Governor Steve Beshear signing an Executive Order allowing the 40 MPH Xebra electric car and truck on Kentucky roads. "Kentuckians, like all Americans, are hard hit by record-high gas prices," Gov. Beshear said at a news conference today announcing the order. "These tough times call for creative solutions, and I believe allowing Kentuckians the option of using an electric vehicle is one of those solutions. Electric vehicles may help ease the burden on the pocketbooks of hard-working Kentucky families, as well as reduce their carbon footprint."
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| ZAP CEO Steve Schneider and Al Yousuf COO Ashraf Saeed (2nd and 3rd from right) attended the announcement |
ZAP CEO Steve Schneider attended the press conference for the Governor's announcement as an invited guest by the State of Kentucky and officials with Integrity Manufacturing of Shepherdsville. Following the announcement Schneider and Governor Breshear got away from the press to talk and take a spin in a ZAP Xebra. Mr. Ashraf Saeed, Chief Operating Officer of the Al Yousuf Group, accompanied Schneider on the visit. A trading conglomerate based in Dubai, the Al Yousuf Group has provided nearly $15 million in capital over the past year to help ZAP increase its electric vehicle manufacturing, marketing and distribution. Schneider said both he and Saeed were very impressed by the visit and plan to explore ways of working with Kentucky to expand the use of electric vehicles. "Never have we received such hospitality and such overwhelming enthusiasm for electric vehicles as exhibited by the Governor and every single person we met while in Kentucky," said Schneider. "Seeing such a swift reaction by the Kentucky government in favor of ZAP affirms our belief that the time is now for electric transportation to play a greater role in society. We all want to build better transportation and it doesn't matter if you live in Kentucky or California, the dream is everywhere."
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