ZAP Purchase Orders Increase to more than $200 Million for High-Efficiency
ZAP! SMARTCAR
SANTA ROSA, Calififornia -- ZAP (OTCBB:ZAPZ), pioneering the next
generation of advanced transportation and energy technologies, announced
today that dealer purchase orders for its Smart Car high-gas-mileage
vehicles has increased to more than $200 million as American demand for
the unique microcar has spread. ZAP CEO Steve Schneider made the
announcement.
On March 9, ZAP announced that it had crossed the $100 million purchase
order milestone for the Smartcar Americanized by ZAP from U.S. auto
dealers. Demand for the highly efficient gas-powered car has accelerated
as rising gas prices continue to fuel consumer interest in next-generation
automobiles, according to Mr. Schneider. Oil prices recently climbed to
more than $50 per barrel, rising last week to a new high of $55 per
barrel. Gasoline prices at the pump now top $2.00 per gallon in much of
the country, while observers suggest that prices may reach $3.00 per
gallon by summertime.
"ZAP continues to work to tap into this incredible demand for
fuel-efficient cars as gas prices continue to rise around the country,"
said Mr. Schneider. "We are meeting with several potential industry
partners to expand our ability to respond to the demand these new purchase
orders represent. We are also evaluating new car models and technologies
that will expand our product line, while offering ZAP dealers the latest
in automotive innovation."
The small, stylish cars create excitement wherever they are shown, even
before the cars are available commercially. Last week, ZAP attended the
ValueRich Small-Cap Financial Expo in West Palm Beach, Fla., and hosted a
showcase of its ZAP Cars at its local authorized ZAP Dealer. Frank Ortiz,
of Foreign Affairs Auto in West Palm Beach, said the dealership has been
inundated with hundreds of calls per day from interested consumers.
"The showcase was designed to be a sneak preview of the cars in South
Florida, but I've had to hire extra people and expand our phone system
just to respond to all the interest," said Mr. Ortiz. "We're only
authorized to give test drives on our private road and though we don't
have any details on when the cars will be available, people still offer to
buy the cars on the spot. We even had to restrict the road testing to
pre-qualified buyers because of all the curiosity seekers just wanting to
see and drive it." ZAP is also displaying the all-electric ZAP Intimidator
L.U.V. automobile at Foreign Affairs Auto.
ZAP holds all rights to Americanize the European-made SMARTCAR to meet
U.S. safety and emissions standards. The small and maneuverable SMARTCAR
is one of the most fuel-efficient internal combustion vehicles available.
With the ability to park in the space of a motorcycle, the two-passenger
SMARTCAR coupe is designed to address many of the serious problems of
crowded urban traffic and rising fuel prices.
The delivery schedule of the Smart Car Americanized by ZAP has not been
determined at the present time. ZAP is continuing to assess potential
additional partners to supply the fast-growing U.S. demand for Smart Cars,
and has been conducting meetings with prospective manufacturing partners
and suppliers in the U.S., China and in other countries. The Company has
also stated that efforts to broaden its ZAP auto dealer network throughout
the country have proceeded faster and more successfully than initially
projected. The Smart Car debuted to U.S. auto dealers in January, at the
annual convention of the National Automobile Dealers Association Dealers
(NADA) in New Orleans.
About ZAP
ZAP, Zero Air Pollution(R), has been a leader in advanced transportation
technologies and energy products since 1994. ZAP serves the
multi-billion-dollar markets for next-generation transportation and power
products through three divisions: ZAP Automotive, ZAP Personal
Transportation and ZAP Energy. The Company has delivered more than 90,000
fuel-efficient and pollution-free vehicles powered by gasoline, electric,
hydrogen and other fuels to customers in more than 75 countries around the
world.
ZAP holds exclusive license from Smart-Automobile LLC to deliver the
popular European-made Smart Car, a high-efficiency gas vehicle, to the
American marketplace. ZAP "Americanizes" the Smart Car to meet U.S.
federal and state safety and emissions standards. The U.S. Environmental
Protection Agency and the Department of Transportation have approved a
Smart Car model Americanized by ZAP for domestic use in 45 U.S. states.
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-Automobile LLC.
The Company's all-electric vehicles include the ZAP Intimidator L.U.V. and
ZAP Worldcar neighborhood and urban electric cars, ZAPPY(R) Scooters,
Mobility Scooters, Bikes and All Terrain Vehicles (ATV). These products
offer convenient, dependable and fun transportation that's heavy duty,
powerful and noise free. The ZAP Portable Energy division has developed a
next-generation, multi-use battery for electronic products that delivers
up to four times the power of typical batteries to charge or power a
variety of devices, including cell phones, digital cameras, DVD and MP3
players, camcorders, and laptops. For more information, visit
http://www.zapworld.com. For investor-specific information, including
daily and historical Company stock quote data and recent news releases,
visit http://www.trilogy-capital.com/tcp/zap. To read or download the
Company's Investor Fact Sheet visit
http://www.trilogy-capital.com/tcp/zap/factsheet.html. For recent news
coverage of ZAP, visit http://www.trilogy-capital.com/tcp/zap/press.html.
To view a video about ZAP, visit
http://www.trilogy-capital.com/tcp/zap/video.html.