Zap (NASDAQ:ZAPZ)
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Americanization of First Smart Cars Underway by ZAP
SANTA ROSA, Calif., Jan. 24 /PRNewswire-FirstCall/ -- Automobile manufacturer
ZAP (OTC:ZAPZ) (BULLETIN BOARD: ZAPZ) announced today that the first Smart
Cars, one of the most fuel-efficient cars in the world, are in the process of
being modified to federal automotive standards at a facility in California.
The Smart Car Americanized by ZAP, as it is called, recently received federal
approval of the modifications that need to be made to the European micro-car.
Federal approvals allow the conversion of the car to begin at a manufacturing
facility in California as well as for sales to begin in 45 states. The Smart
Car still needs to undergo testing for California's emissions standards, which
also cover New York, Massachusetts, Vermont, and Maine. The car is receiving
modifications to meet U.S. Department of Transportation and Environmental
Protection Agency standards, including improvements to the structural design,
lighting, as well as diagnostic and fueling systems.
The opportunity to sell the Smart Car is a leap forward for the small, public
company based in Northern California, which is gearing up for the possibility
to sell thousands of cars per year. CEO Steve Schneider is expecting the first
of the cars to be completed soon and says ZAP is working on finalizing its
marketing, distribution and service program for the car, including working with
its dealers to buy 100-unit blocks of the car to speed up supply.
"The way things are shaping up with the Smart car, it looks like small is the
next big thing!" said Schneider. "Demand for the Smart Car in the U.S. is
reaching a fever pitch and we are working as quickly as we can to make these
cars available in large numbers. ZAP has invested a great deal of effort to
bring this car to the U.S. and we are as excited as everyone about the imminent
arrival, but we must thank all our customers and dealers for their patience as
we work to legalize the cars and establish a distribution program that provides
adequate supply, parts and service."
Schneider says the fuel-efficiency and the style of the Smart Car have become
legendary here in the U.S. as travelers abroad have brought back stories about
falling in love with the car in Europe. Nearly 9000 people have registered
their purchase interest in the cars and more than 1000 auto dealers have
inquired about ZAP's business plan to establish a dealer network for
fuel-efficient and advanced automotive technologies. ZAP is evaluating a
situation where it may not have enough cars to satisfy initial demand.
The fuel-efficient Smart Car accelerates ZAP's Business Plan to manufacture and
distribute automobiles utilizing advanced fuel technologies. ZAP recently
announced a joint venture in China that is near completion on its first
manufacturing facility that will work in the development of ZAP CARS(R) powered
by a variety of advanced fuels, including cars that run on gasoline,
electricity, hydrogen and other technologies, which it can introduce to sell
alongside the Smart car as well as other cars that it expects to introduce over
time. ZAP is also a manufacturer and distributor of personal transportation
vehicles, including scooters, bicycles and other motorized vehicles. ZAP is
also involved in the research and development of advanced battery technologies
for electric vehicles and has established an energy division to market and
distribute portable batteries that utilize this technology.
About ZAP
ZAP has been a world leader in cleaner transportation technologies since 1994,
delivering its award-winning ZAP vehicles and energy products to customers in
more than 60 countries. A public company, ZAP is traded on the Over-the-Counter
stock exchange under the symbol ZAPZ. The company offers a variety of advanced
technologies and vehicles, including cars, bicycles, scooters, motorbikes,
underwater scooters and more. For more information, visit
http://www.zapworld.com/ or call 707-525-8658. ZAP is not affiliated with, or
authorized by, smart gmbh, the manufacturer of SMART automobiles, or the
smartUSA division of Mercedes-Benz LLC, the exclusive authorized U.S. importer
and distributor of those vehicles. ZAP purchases its vehicles from
non-affiliated direct importer Smart-Auto LLC.
Forward-looking statements in this release are made pursuant to the "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995.
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.
DATASOURCE: ZAP
CONTACT: Media Relations, Alex Campbell, +1-707-525-8658, ext. 241, or
, or Investor Relations, Steven Kim, +1-707-525-8658,
ext. 298, or
Web site: http://www.zapworld.com/