The latest on ZAP Automotive - 3/16/08

ZAP is the leader in the distribution of fuel efficient alternative energy vehicles in the United States. ZAP stands for Zero Air Pollution. They have established over twenty dealers in the U.S. so far. ZAP intends to grow their distribution base significantly over the next several years. ZAP’s XEBRA vehicle was launched in 2006. Their new flagship vehicles will be a four passenger sedan and a two passenger utility pickup truck. The Electric Auto Association states there are over 56,000 Electric Vehicles (EVs) on the road today.

ZAP believes with the introduction of very affordable vehicles like the XEBRA which will retail for less than $10,000, the EV market will continue to grow rapidly. The XEBRA will have speeds in excess of 40 mph which is unheard of with other EVs. ZAP’s Chinese manufacturing partner has the capacity to produce 1,000 vehicles per month.

ZAP will be launching an advanced alternative energy vehicle called the OBVIO in 2008. An alternative energy vehicle is designed to run on ethanol, gasoline, or any combination of the two fuels. There will be two models available, an economy 828 model and a high performance 012 model. ZAP anticipates delivers of the OBVIO to begin in 2008. It is estimated that there are over five million flex fuel vehicles on U.S. roads today with sales expected to increase substantially over the next few years.

ZAP completed a feasibility study with Lotus Engineering in May of 2007 to develop a new generation of high performance commercially viable EVs called the ZAP-X. ZAP has partnered with Youngman Automotive Group, one of the largest vehicle manufacturers in China to build the ZAP-X. The ZAP-X will use lithium batteries that are estimated to be recharged in 15 minutes. The all aluminum body complements its light weight design. The ZAP-X will retail for $60,000.

Recently ZAP received a $5 million investment in ZAP stock by the Al Yousuf Group which will further their efforts to bring affordable EVs to the market place.

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