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ZAP Announces 100-Unit Block Purchase Order for SMART Car
SEBASTOPOL, Calif., Nov. 30 /PRNewswire-FirstCall/ -- Automotive technology
pioneer ZAP (OTC:ZAPZ) (BULLETIN BOARD: ZAPZ) announced today that, based on
interest generated at the San Francisco International Auto Show last week, it
has received a 100-unit block purchase order from a U.S. automotive dealer.
ZAP will not announce the name of the dealer until the cars are ready to be
sold to the general public, but is in discussion with a number of government
and corporate fleets as well as automotive wholesale dealers for purchase
orders of 100 or more cars, up to 15,000, by December 31, 2004 due to U.S.
small manufacturers limitations.
ZAP unveiled the SMART Car to U.S. consumers last week at the San Francisco
International Auto Show, announcing that the U.S. Environmental Protection
Agency has issued a Letter of Conformity for the 60-MPG car. This regulatory
approval clears the way for ZAP to begin organizing U.S. marketing and
distribution for the SMART Car. ZAP has an exclusive distribution contract with
SMART-Automobile LLC for the rights to sell the cars in the United States with
a near-term goal of 150 dealer outlets by second quarter of fiscal year 2005.
The SMART car enables ZAP to execute its new business plan of establishing a
ZAP auto dealer network that caters to socially responsible car buyers with
advanced automotive technologies, including fuel-efficient automobiles powered
by gasoline, electric, hydrogen and other fuels. The publicly owned Northern
California Company made a name for itself over the past decade pioneering the
market for electric cars, bikes and scooters.
The SMART Car Americanized by ZAP is stylish, fun, parks in the space of a
motorcycle, stands up to a Mercedes in crash-tests, and reportedly averages
60-MPG, making it one of the most efficient internal combustion cars on the
market, rivaling even hybrid gas-electric cars. The SMART car has become a
popular culture icon since its release in Europe in 1998 and ZAP believes
Americans will snap up the SMART with gas prices at record levels.
SMART-Automobiles LLC is an independent, privately-held company that oversees
the direct importation and modification of automobiles to meet U.S. standards.
About ZAP
ZAP has been a leader in clean transportation technologies since 1994,
delivering more than 85,000 vehicles 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 technology vehicles,
including electric cars, bicycles, scooters, motorbikes, underwater scooters
and more. For more information, visit http://www.zapworld.com/ or call
+1-707-525-8658.
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, Alex Campbell, +1-707-525-8658, ext. 241, or
, or investors, Steven Kim, +1-707-525-8658, ext. 298,
or , all of ZAP
Web site: http://www.zapworld.com/