Zap (NASDAQ:ZAPZ)
Historical Stock Chart
From Jun 2019 to Jun 2024
![Click Here for more Zap Charts. Click Here for more Zap Charts.](/p.php?pid=staticchart&s=N%5EZAPZ&p=8&t=15)
ZAP Expands Presence in China
Acquires Chinese Manufacturing Plant
SANTA ROSA, Calif., Jan. 10 /PRNewswire-FirstCall/ -- Advanced transportation
pioneer ZAP (OTC:ZAPZ) (BULLETIN BOARD: ZAPZ) is expanding its business
activities in China with the announcement today of a joint venture Company, ZAP
(China) Ltd., to leverage China's emerging manufacturing capabilities.
ZAP will take the lead as the parent company in ZAP (China) with an 80 percent
ownership stake in the joint venture Company.
ZAP (China) will finish its first phase of development with the completion of a
1,280 square meter manufacturing and assembly facility in Nanchang. ZAP CEO
Steve Schneider envisions expanding the ZAP (China) facility to create a ZAP
Technology Center utilizing the surrounding 45-acre business complex for
manufacturing, assembly, quality control, research and development and more.
"We are excited about the growth potential of China in manufacturing as well as
one of the world's fastest-growing consumer markets," said Schneider. "ZAP is
becoming one of the most recognized names in the emerging advanced automotive
and energy markets, and these ventures in China help ZAP move towards its goal
of creating a global consumer brand for this market."
Schneider says a major focus for ZAP (China) will be the development and
manufacturing of fuel cell technologies and advanced battery technologies. ZAP
recently signed an exclusive distribution agreement with fuel-cell maker Anuvu
Incorporated for the development of hydrogen-electric fuel cell hybrids. ZAP is
also part owner of Zibo Enterprises, a Chinese-based manufacturer and developer
of lithium-based battery technologies.
ZAP is working to create a national distribution network in the U.S. that
caters to fuel-efficient car-buyers with advanced automotive technologies,
including cars that run on electricity, hydrogen and other fuels. ZAP is also
packaging some of its "spinoff" technologies for consumer elecronics, including
its recent launch of a new line of portable energy systems for laptops and cell
phones as well as the establishment of a new division to target business
opportunities in advanced energy technologies.
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
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 , both of ZAP
Web site: http://www.zapworld.com/