WASHINGTON, DC -- Officials from ZAP (OTCBB: ZAAP) say the Stimulus Act signed into law by President Barack Obama yesterday carries a provision in which buyers of its electric cars and trucks can receive a 10 percent tax credit up to $2,500. The plug-in tax credit in the Stimulus Act can be applied for on vehicles purchased starting today. The tax credit applies towards ZAP's Xebra sedan (MSRP $11,700) and truck (MSRP $12,500) as well as its new low-speed vehicles, the ZAP Shuttle (MSRP $14,700) and ZAP XL Truck (MSRP $14,500).
The ZAP Xebra Can Receive a 10% U.S. Tax Credit.The tax credits were initially slated to have an effective date starting January 1, 2010, but ZAP argued that the tax credits would meet the spirit of the Stimulus Act if started immediately. CEO Steve Schneider expressed appreciation to Congressman Mike Thompson (California 1st District) who successfully argued for immediate implementation of the tax credits in the House Committee on Ways and Means. 
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