SANTA ROSA, California -- Automotive pioneer ZAP (NYSE Arca:ZP) will introduce a new vehicle on August 24th as the next milestone in its business plan of creating a brand and distribution network for advanced fueled micro-cars, a market the Company says has driven sales up 376 percent this past quarter on rising oil prices.
ZAP CEO Steve Schneider said that the Company is still planning out the details of the announcement, but hinted that the new ZAPCAR(TM) would be designed to open markets previously untapped in the auto industry.
Schneider noted this week that ZAP revenues for the first six months of 2006 have surpassed revenues for all of 2005. Second quarter revenues for the three months ended June 30, 2006 were $4.4 million compared to $923,000, an increase of $3.4 million or 376 percent for the same period a year ago. ZAP's quarterly results were filed earlier this week. For more information, visit www.zapworld.com.
ZAP stands for Zero Air Pollution. Its mission is to be the leading distribution portal of socially responsible and environmentally sustainable, advanced technology vehicles. ZAP is a pioneer at the forefront of electric and other fuel efficient transportation and believes that helping our stakeholders act responsibly, both with regards to our environment and the oil crisis, can go hand-in-hand with generating appropriate returns on our investments. For more information, visit www.zapworld.com.