ZAP (OTCBB: ZAAP) added six new electric car dealers at its first dealer sales and service training of 2008 yesterday, collecting signed purchase orders totaling 614 Xebra sedans and trucks.
SANTA ROSA, CA., Feb 1, 2008 - ZAP (OTCBB: ZAAP) added six new electric car dealers at its first dealer sales and service training of 2008 yesterday, collecting signed purchase orders totaling 614 Xebra sedans and trucks.
The signed, non-cancelable dealer purchase order agreements were for a mixture of ZAP Xebra electric sedans and trucks. The orders also include the Zapino, ZAPPY3 PRO, ZAPPY3 EZ and the ZAP Mid-Sized ATV. Overall, yesterday's purchase orders including all the different vehicles total $5,127,850. Dealers are expected to take delivery of a minimum of ten cars a month over the next twelve months.
ZAP CEO Steve Schneider expects more dealers to join its distribution network over the next few weeks, which now totals 54 locations throughout the United States with a goal to establish 100 dealers by the end of the year. The Santa Rosa, California-based Company will be exhibiting at the industry's largest dealer conference for auto dealers, NADA (http://www.nada.org), February 9-12, 2008 in San Francisco.
For the first time, ZAP CEO Steve Schneider gave a presentation to dealers about plans for the joint venture with China Youngman to make freeway capable electric and hybrid vehicles. Last week, joint venture officials stated they believe the highway capable ZAP Alias(TM) electric vehicle can go into production by the second quarter of 2009 with other vehicles being planned as well. Schneider promised that dealers who do well selling the Xebra will qualify for the joint venture's highway capable electric cars and other vehicles being planned.
"We are looking for dealers who want to take action today," said Schneider. "The technology for electric cars is coming faster than everyone thinks. We will be working very hard this year to expand and refine our dealer network for the more advanced vehicles planned for 2009. We have restructured our distribution concept to offer an incentive for dealers who can tap into the many vertical markets opening up for electric vehicles and to be able to profit from them right away. Today's Xebra is the VW Bug of electric cars; it's basic and cost-effective. Companies like UPS, Coke and others are finding ways to incorporate these environmentally friendly vehicles into their bottom line savings and with today's economy the demand can only grow."
ZAP said the dealer training yesterday was the largest to date, with 19 dealers and entrepreneurs represented. Every month, ZAP holds a dealer sales and service seminar for existing dealers, their staff, as well as prospective dealers and entrepreneurs evaluating the business opportunity. ZAP spends a full day with dealers talking about the Company, the products and the market along with a technical course for electric car mechanics. ZAP invites potential international distributors to its training seminars and two attended from Australia and Israel. Four of the new ZAP dealers are from California. One is from Minnesota and the other from Pennsylvania.
Those interested in the Xebra electric car, truck or any of ZAP's other electric vehicles can request a test drive by inquiring at http://www.zapworld.com in the 'Contact Us' section or by calling 707-525-8658.
ZAP has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, hydrogen, electric, fuel cell, ethanol, hybrid and other innovative power systems, ZAP has a joint venture to manufacture electric and hybrid vehicles with Youngman Automotive Group, one of China's leading manufacturers of buses and trucks. ZAP is developing a high-performance crossover SUV electric car concept called ZAP-X engineered by Lotus Engineering. ZAP is also developing a new generation of vehicles using advanced nanotech batteries with Advanced Battery Technologies. The Company recently announced a strategic partnership with Dubai-based Al Yousuf Group to expand its international vehicle distribution. ZAP also makes an innovative, new portable energy technology that manages power for mobile electronics from cell phones to laptops. For product, dealer and investor information, visit http://www.zapworld.com.
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.
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