Archive

Archive for the ‘ZAP Fleet’ Category

ZAP Completes 51% Acquisition of China’s Jonway Automobile, Cathaya Capital Funds Total of US$36 Million

January 25, 2011 11 comments

New U.S.-China Automaker Aims at Emerging Electric Car Market

SANTA ROSA, California (January 25, 2011) – Electric vehicle market pioneer ZAP (OTC BB: ZAAP) announced today that it has completed its acquisition of 51 percent of the capital stock of Zhejiang Jonway Automobile Co. Ltd. of Sanmen, Zhejiang, China. Cathaya Capital LP has funded the aggregate amount of US$36 million.

White ZAP SUV-style Taxi

The ZAP Jonway Electric Taxi SUV is anticipated for production by June 2011.

The final payment of US$19 million related to the acquisition was made on January 21, 2011 with the funding from Cathaya Capital. Total cash payment for the acquisition of 51 percent of Jonway Automobile was US$30,030,000.

With ZAP’s electric vehicle (EV) technology expertise and international experience, the combined company intends to build the necessary production platform to address the Chinese EV market. The newly combined company, to be renamed ZAP Jonway, will leverage Jonway Auto’s A380 SUV, as well as its established distribution channels to the Chinese market with over 90 direct dealers. ZAP Jonway will manufacture and sell SUVs powered by ZAP’s electric drive train and expects to benefit from the 60,000 RMB (approximately US$9,000) government incentives granted to electric car buyers.

Jonway Automobile anticipates vehicle sales for its gasoline A380 SUV to increase by 40 percent to over 10,000 vehicles in 2011 compared to 2010. In 2009, its first year of sales, Jonway Automobile experienced sales of 4,000 SUVs, which rose to over 7,000 in 2010, each with a sales price of around US$11,000. ZAP Jonway is currently adding to its manufacturing production lines to deliver the A380 EV SUV by the anticipated date of June 2011 and ZAP’s ALIAS EV roadster by September 2011.

The ZAP Alias Electric Car

The Alias is anticipated for production by September 2011.

“Jonway Automobile’s revenues from selling its gasoline vehicles will help build the foundation for ZAP Jonway’s growth in the electric vehicle market, allowing ZAP to focus on further strengthening its EV technology, reinforced by Jonway’s manufacturing production expertise and ready market access to China,” said Dr. Priscilla Lu, founder and general partner of Cathaya Capital, a Cross Border Fund focused on China. Dr. Lu has served as Chairman of the Board for ZAP since September 2009. Cathaya Capital has invested US$36 million in ZAP since September 2009 with the goal of completing this 51 percent acquisition of Jonway Automobile.

Jonway Automobile is ISO 9000 certified with over 3.6 million square feet of fully provisioned factory space on 141 acres of land.

This press release contains forward-looking statements. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of ZAP’s products, increased levels of competition, new products and technological changes, ZAP’s dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the ZAP’s periodic reports filed with the Securities and Exchange Commission.

Contact:
Alex Campbell
ZAP Jonway USA
+1-707-525-8658 x 241
acampbell@zapworld.com

Jessica Gao
ZAP Jonway China
+86 13511038395
juan.gao@zapworld.com

ZAP Begins Project Development on Green City Partnership with Shanghai’s Yangpu District

December 17, 2010 2 comments
ZAP Jonway Signs MOU with Yangpu District Government of Shanghai

ZAP signed an MOU agreement with the government of Shanghai's Yangpu District on November 19th in San Francisco to provide electric vehicles for public transportation while installing charging and battery swap-out stations. The project was formed during a Bay Area Council trade mission to Shanghai in September. Click for Slide Show.

SANTA ROSA, Calif. (December 17, 2010) – Electric car pioneer ZAP (OTC BB: ZAAP) this week began project planning with the government of Shanghai’s Yangpu District to develop a Green City Zone in Yangpu’s downtown area, a university and research hub that is home to 1.24 million people. Based on an MOU partnership agreement signed in San Francisco on November 19, 2010, the project plans to reduce carbon emissions in Yangpu using electric vehicles (EVs) for its public transportation while installing an EV charging infrastructure, battery swap-out stations and maintenance support centers.

The partnership agreement with Yangpu government is a direct result of Governor Schwarzenegger’s trade delegation to Shanghai in September this year, sponsored by the Bay Area Council, and is one of the first formal initiatives between the two regions.

Party Secretary Chen Yin attended the signing ceremony in San Francisco on November 19, 2010. At the ceremony, Party Secretary Chen said that improving air quality, “green” urban mobility and development of clean energy infrastructure are some of the key initiatives of Yangpu in the next few years.  He indicated that this agreement shows the beginning of growing ties between two of the world’s leading technology innovation centers, Yangpu and the Bay Area, especially in the development of clean technology.  Within the 24 square mile district of Yangpu there are 14 universities surrounding the Knowledge Innovation Center (KIC), a technology community that includes Fudan University and Tongji University, making this area one of the leading research centers in China on Clean Tech.

“New plug-in vehicle technologies from ZAP, together with Jonway’s cost effective manufacturing in China, will accelerate the implementation of our Green Project with Yangpu. This truly bridges the best aspects of both the US and China, leveraging the strengths of the technological innovation in the Bay Area and Yangpu,” said ZAP CEO Steve Schneider.

According to the framework of the partnership, ZAP will provide an electric car charging infrastructure, battery swap out stations, as well as EV maintenance and repair depots in Yangpu.  ZAP will work with Yangpu’s government agencies, local universities, and private corporations on plans to further expand zero-emission transportation in the city.

“We have just started the initial planning of this long term project. The hard work of implementation and operations is ahead of us. We believe that the project planning and resourcing will be a yearlong process.  We are pleased to be part of Yangpu’s Green Project and share Party Secretary Chen Yin’s vision and commitment to delivering his objectives,” says ZAP Chairman Dr. Priscilla Lu.

To execute these plans and better access the Chinese market, ZAP Jonway will open its EV sales and operations office in the Yangpu District and plans to establish its research and development engineering center in the district to take advantage of the university communities.

About ZAP
Based in Santa Rosa, ZAP has been a pioneer in the electric vehicle industry since 1994, engaging in the design, development, commercialization and distribution of 100% pure electric vehicles and power systems, and delivering a wide range of vehicle designs to consumers and fleet customers in the United States and international markets for sixteen years.  The company supplies electric trucks and vans to military, government and corporate fleets and offers personal transportation products including electric motorcycles, scooters, ATVs and some of the only electric city-speed vehicles in production today. ZAP is also developing a freeway capable electric vehicle called the ZAP Alias that was a finalist in the Progressive Insurance Automotive X PRIZE.

About Jonway
Jonway is the trade name of Zhejiang Jonway Automobile Co., Ltd., an automobile manufacturer based in Taizhou, Zhejiang, China that currently produces several thousand units per year of two SUV models, the A380 3-door and the A380 5-door.  Built in 2009, Jonway’s modern 3.6 million square foot factory on 141 acres is ISO9000 certified and has the capacity to produce up to 30,000 units per year.  It employs over 800 workers and distributes its vehicles in China through 80 factory direct dealers and hundreds of factory authorized dealers.  Jonway Auto is a subsidiary of Jonway Group, which has been a leader in the manufacturing of motorcycles, ATVs and related products for more than 20 years.

Safe Harbor Statement

This press release contains forward-looking statements. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of ZAP’s products, increased levels of competition, new products and technological changes, ZAP’s dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the ZAP’s periodic reports filed with the Securities and Exchange Commission.

# # #

CONTACT:

ZAP (Jonway) USA
Alex Campbell, +1-707-525-8658 ext. 241
acampbell@zapworld.com

or

ZAP (Jonway) China
Jessica Gao, +86 13511038395
juan.gao@zapworld.com

ZAP Provides Update on Jonway Automobile Acquisition

November 18, 2010 Leave a comment

SANTA ROSA, Calif., Nov 18, 2010 (BUSINESS WIRE) — Electric vehicle pioneer ZAP (Stock Symbol: ZAAP) completed its initial down payment of US$10 million towards the 51% acquisition of Jonway Automobile. Jonway Automobile plans to complete an audit of its financial statements by December 31, 2010 and thereafter, ZAP intends to finalize the acquisition with the payment of the US$19 million balance of the US$29 million purchase price.

The Logo for Zhejiang Jonway Automobile Co. Ltd.Jonway Automobile reported sales of over 4,000 gasoline vehicles through the end of September 2010, and projects total sales of over 6,500 vehicles by December 31, 2010. Jonway Automobile reported that wholesale sales prices of the vehicles averaged US$10,000. Jonway Automobile projects year-end revenues for 2010 to increase more than 40% compared to last year with its current gasoline vehicle product line. Jonway Automobile reports that it is debt-free, cash flow positive and able to finance its gasoline product revenue growth at the same rate for 2011.

Under the new equity structure, Jonway Automobile will be 51% owned by ZAP, and 49% by its original parent Jonway Group. This equity ownership transfer was approved by the Chinese government on October 3, 2010. Jonway Automobile plans to ramp up production of the A380 SUV electric vehicle (EV) in the first half of 2011 together with ZAP’s Alias EV by third quarter 2011 at their Sanmen, Zhejiang factory. By combining Jonway Auto’s ISO 9000 manufacturing facilities, capable of delivering over 50,000 vehicles per year, with ZAP’s EV technologies, products and expertise, the company aims to lead the emerging EV fleet market in China.

Alex Wang (Wang Gang) was recently appointed by ZAP’s board to be Co-CEO of ZAP. ZAP (Jonway) will expand the market to sell both gasoline and EVs from China to rest of the world.

ZAP (Jonway) recently showcased its EV product line at the 25th Electric Vehicle Symposium in Shenzhen to launch its EV sales in China targeting volume production delivery by the first half of 2011.

Focused on delivering quality products, Jonway started to sell its A380 SUV product line last year, offering quality and value incorporating a Mitsubishi power train. ZAP (Jonway) plan to enhance manufacturing facilities to produce electric vehicles in Jonway’s 3.6 million square feet of factory facilities on the 141 acres of land in Sanmen, Zhejiang Province, China.

About ZAP

ZAP is one of the oldest EV companies with extensive industry experience in EV product design and conversions. ZAP supplies electric trucks and vans to the military, government and corporate fleets and is one of the early pioneers of electric motorcycles, scooters and ATVs. The Santa Rosa, California based company offers a product line of all electric trucks, vans, sedans and motorcycles in production today. ZAP news and information is available at http://zapglobal.wordpress.com.

About Jonway Automobile

Zhejiang Jonway Automobile Co. Ltd. (Jonway Automobile), headquartered in Sanmen, Zhejiang Province, manufactures, markets and sells SUVs in China with over 90 direct dealers all over China. Their SUV has been type approved for sale in Europe. Jonway Group holds the automobile license and granted irrevocable right for SUV manufacturing to Jonway Automobile. Jonway’s factory, with production capacity of 50,000 vehicles per year, opened in 2009 and is ISO9000 certified with factory space of over 3.6 million square feet on 141 acres of land in Sanmen, Zhejiang Province, China.

Safe Harbor Statement

This press release contains forward-looking statements. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of ZAP’s products, increased levels of competition, new products and technological changes, ZAP’s dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the ZAP’s periodic reports filed with the Securities and Exchange Commission.

SOURCE: ZAP

ZAP (Jonway) USA
Alex Campbell, +1-707-525-8658 ext. 241
acampbell@zapworld.com
or
ZAP (Jonway) China
Jessica Gao, +86 13511038395
juan.gao@zapworld.com
SANTA ROSA, Calif., Nov 18, 2010 (BUSINESS WIRE) — Electric vehicle pioneer ZAP /quotes/comstock/11k!zaap (ZAAP 0.76, +0.10, +15.50%) completed its initial down payment of US$10 million towards the 51% acquisition of Jonway Automobile. Jonway Automobile plans to complete an audit of its financial statements by December 31, 2010 and thereafter, ZAP intends to finalize the acquisition with the payment of the US$19 million balance of the US$29 million purchase price.

California Air Resources Board Offers EV Incentive for Agriculture, ZAP Electric ATV Qualifies

November 12, 2010 3 comments
Here comes the DUDE, ZAP's all electric ATV.

ZAP's all electric ATV is eligible for a 25% sales rebate from California

SANTA ROSA, California (October 22, 2010) – A new electric all terrain vehicle (ATV) from ZAP (OTC BB: ZAAP) is eligible for a 25 percent sales rebate from the State of California Air Resources Board, under a program to support the use of electric vehicles from agriculture. On September 16, 2010 the rebate amount increased from 15 percent to 25 percent of the manufacturer’s suggested retail price.

The ZAP DUDE all electric ATV is great for agriculture.

Wired Winery - ZAP DUDE Electric ATV

ZAP’s DUDE all-electric ATV is ideal for agricultural operations, like wineries, dairies, farms, ranches, wholesale, nurseries, raising and harvesting of crops from soil, the raising of fowl or animals, logging and forestry operations.

The $1.1 million Zero-Emission Agricultural Utility Terrain Vehicle (Agricultural UTV) Rebate Project is intended to encourage and accelerate the use of zero-emission work vehicles for use in California agricultural operations, as defined by ARB’s Regulation for In-Use Off-Road Diesel Vehicles.  The program provides rebates for the purchase of new, eligible all terrain and utility vehicles on a first come, first serve basis. Rebates for these vehicles are now available through the Agricultural UTV Rebate Project and implemented statewide by the San Joaquin Valley Unified Air Pollution Control District (SJVUAPCD).

“ZAP’s participation in this rebate project is providing eligible California consumers with a clean technology option at a time when our state needs it most,” said Lucina Negrete, Manager Air Quality Implementation Section Mobile Source Control Division.

Eco-friendly yet powerful, the ZAP DUDE is a 4X2 designed to handle heavier jobs at an MSRP of $5,495.00.  The 4000 watt, 8 horsepower electric motor can tow up to 650 lbs. and drives the Dude up to 25 MPH. The entry-level Dude can travel up to 25 miles.  Range will vary significantly depending on hill grade, speed, rider weight and other factors.  The batteries can be recharged using the on-board charger at any standard outlet.  The Dude has a front and rear cargo rack capacity of 100 lbs. each and a rider weight capacity of 290 lbs. and uses rugged steel construction.

The ZAP DUDE electric ATV can carry up to 100 lbs on its cargo racks.

ZAP DUDE working at a dairy.

While the ZAP Dude is ideal for agrarian tasks and hunting/outdoor sports, it is also a handy, reduced-noise utility vehicle for parks, zoos, campuses, sports stadiums, facilities golf courses, maintenance, and security.  With reduced engine noise, the Dude allows hunters to more easily approach game.  Because it creates no tailpipe emissions, the ZAP electric ATVs can be used safely indoors as well.

Electric ATVs offset many of the objections leveled at gas models.  Electric motors produce substantially less noise than their gas counterparts.  They help save money with electricity costing about one cent per mile versus ten cents or more per mile for gasoline. Research shows that electric motors have less maintenance with fewer moving parts subject to wear and tear, with no oil changes, spark plugs or tune-ups required.

Electric ATVs operate at much lower temperatures compared to internal combustion models, so riders have little worry of burning their legs or sparking a brush fire. ZAP recommends riders always wear a helmet and use their ATVs only off-roads.

About ZAP

ZAP has been a leader in electric transportation since 1994, delivering over 117,000 vehicles to consumers in more than 75 countries. ZAP manufactures a line of electric vehicles, including electric city-cars and trucks, motorcycles, scooters, bicycles, and ATVs. ZAP sells some of the only electric city-speed cars, trucks and vans in production today and is developing a freeway capable electric vehicle called the ZAP Alias. For product, dealer and investor information, visit http://www.zapworld.com.

Media Contact:

Alex Campbell, ZAP
+1-707-525-8658 x 241
acampbell@zapworld.com

ZAP DUDE electric ATV used for golf course maintenance towing a lawnmower.

Golf Course Maintenance.

SOURCE:

California Air Resources Board

EVS-25 Update: China Leads EV Incentives

November 8, 2010 Leave a comment

 

ZAP Jonway Hostesses on ZAPPY3 electric scooters at EVS-25

ZAP Jonway Hostesses on ZAPPY3 electric scooters at EVS-25, Click Image for Slide Show

FINAL DAY UPDATE: With all the cool EVs in the ZAP Jonway booth during EVS-25, you’ll be surprised to know that the ZAPPY3 three-wheeled scooter/personal transporter was the big hit!  People loved the mobility, looks and fun.  Right behind it was the ZAP DUDE electric ATV.  In fact, there was a line in the booth for people who wanted to get their photo on them.  We definitely scored some major interest in distributing these to many parts of the world. The SUV taxi was not too far behind with people from major automotive suppliers returning to the booth numerous times to show their colleagues.  Some inquired about setting up a taxi service in their municipalities, in China, Russia and the EU. It was also a pleasure to welcome the highest level management of ZAP Jonway to the booth: Board Chair, Priscilla M. Lu, Ph.D., as well as ZAP Jonway Co-CEOs Alex Wang and Steve Schneider who attended several business meetings while in Shenzhen.

Thumbs up for ZAP Jonway at EVS-25

Thumbs up for ZAP Jonway at EVS-25

ZAP Jonway EVS-25 Slide Show – Click Here

We learned a pretty important fact attending some of the presentations at EVS-25 in Shenzhen. China now leads the world in EV government subsidies, with 3,000 yuan per kWh of battery capacity, up to 60,000 yuan per car!! Plus, there are some local governments such as Shanghai and Shenzhen offering an additional 40,000 yuan — that’s 100,000 or about $15,000!! J.D. Power projects that soon 2% of all cars in China to be electric.

There was a great deal of anticipation for the third day of EVS-25 because the Chinese regional delegations would be visiting. Throughout the morning we fielded questions, testing our Chinese language abilities. Again the electric SUV/Taxi played a key role, attracting interest for fleet use as well as taxi use in parts of China. Also there was a great deal of industrial interest for parts and component supply relationships with markets as diverse as Mexico and Hong Kong. It was helpful when ZAP founder Gary Starr showed up to help with many of the technical questions. Have H. David Jones, ZAP’s COO helped respond the growing wave of interest. The general public came in the afternoon, further increasing interest in the ZAPPY3. Also interest in the ZAP DUDE electric ATV from many of the factory workers we met. With interested buyers, we had to continually stress the importance of distribution, service, parts and warranty for expanding the supply and distribution chain, but many still wanted to buy vehicles right on the spot. One woman bought a ZAPPY3 scooter, wanting to make sure she got one with a seat. Later we met some electric vehicle enthusiasts from Europe, some of them inquiring about our fleet XL trucks and Shuttle vans.

ZAP and Jonway Auto Show Lineup at 25th International Electric Vehicle Symposium (EVS-25)

November 5, 2010 6 comments

ZAP Jonway Exhibit at EVS-25 November 5-9 in Shenzhen, China.
ZAP Jonway A380 Electric SUV/TAXI Exhibit at EVS-25

Day 2 Update: People started coming to the booth before the show even began, investment bankers, battery companies, government officials, tech suppliers, service companies, potential distributors, press and people wanting to ride and negotiate a purchase of the ZAPPY3s electric scooters and the ZAP DUDE ATV, with interest in its towing and light fleet applications. Sold a couple too! Parties from Korea, to Latin America, Detroit, Scandinavia, Germany, Eastern Europe — even island nations. Potential suppliers would come up and ask for a tour of the whole booth, asking questions about every detail of the new products, only to find out at the end that they were already familiar with ZAP, were aware the business venture with Jonway and came by the booth to make a deal. One of the employees from the Beijing office took a tour of the exhibit hall on a ZAPPY3 and came back followed by interested buyers. The arrival of ZAP CEO Steve Schneider from the United States was an inspiration to all working in the booth. Keep up the good work, Dario, Miro, Jessica, Lawrence, Dave and everyone.

Flickr Slide Show – Click Here

ZAP Jonway Vehicles on Display at EVS-25 in Shenzhen, China

ZAP Jonway Booth at EVS-25

UPDATE FROM SHOW: ZAP Jonway is showing off some of its most up to date electric vehicles at EVS-25. The ZAPPY3, the ZAPINO, ZAP DUDE electric ATV and the Electric SUV/ Taxi are commanding everyone’s attention. There is a great deal of interest for the Remy motors that we are displaying in the booth. The electric SUV/TAXI has been the focal point for the visitors to our stand. People from Hong Kong and UK are asking for right-hand steering wheels. Technology suppliers have been requesting the opportunity of testing their equipment in the A380. Having a great deal of interest from distributors in many parts of the world for using our ZAP fleet vehicles, Germany, Italy and Australia. A lot of sales interest for the ZAP DUDE. We’ve even noticed engineers from competing companies just couldn’t resist coming over to learn about our vehicles. People are also having fun test riding the ZAPPY3. Enthusiasts and friends of ZAP and Jonway are also visiting to say hello, including Lotus Engineering, Japanese Media, Chinese Media and high level executives from Jonway. We expect an even busier day tomorrow.

SHENZHEN, China (November 4, 2010) – Electric vehicle pioneer ZAP (OTC BB: ZAAP) and Zhejiang Jonway Automobile Co. Ltd. are showing their lineup at the 25th International Electric Vehicle Symposium, EVS-25, November 5-9 in Shenzhen, China.

The 25th International Electric Vehicle Symposium LogoZAP and Jonway Auto have signed an acquisition agreement whereby ZAP would acquire 51 percent majority ownership in Jonway Auto, including their auto assembly facility in Taizhou City, China. By combining Jonway Auto’s manufacturing capabilities with ZAP’s electric vehicle expertise, the two companies are working to combine forces to target the emerging electric vehicle fleet market in China.

ZAP and Jonway Auto are displaying Jonway’s A380 Sports Utility Vehicle (SUV) with an all-electric drive train engineered by ZAP. The vehicle is designed to meet the needs of fixed-route fleet and utility customers in China for corporate and government transportation as well as for taxis and limousines. The two companies will also be showing a new line of lithium battery powered electric motorcycles, new charging stations and other electric vehicles (EVs).

ZAP Jonway electric taxi at EVS-25

ZAP Jonway SUV

The World Electric Vehicle Symposium and Exposition (EVS) series, organized by World Electric Vehicle Association (WEVA), is recognized as the premier event for academic, government and industry professionals involved in electric drive technologies. For more information, visit http://www.evs25.org.

About ZAP

ZAP is one of the oldest and most experienced EV providers, having delivered over 117,000 of a broad range of vehicles to more than 75

countries since 1994. ZAP supplies electric trucks and vans to military, government and corporate fleets and is an innovator of electric motorcycles, scooters and ATVs. The Santa Rosa, California based company offers some of the only electric city-speed cars and trucks in production today. ZAP is also developing a freeway capable electric vehicle called the Alias. Further news and information is available at http://zapglobal.wordpress.com.

Safe Harbor Statement

This press release contains forward-looking statements. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of ZAP’s products, increased levels of competition, new products and technological changes, ZAP’s dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the ZAP’s periodic reports filed with the Securities and Exchange Commission.

CONTACTS:

ZAP Jonway USA
Alex Campbell
+1-707-525-8658 ext. 241
acampbell@zapworld.com

ZAP Jonway China
Jessica Gao
+86 13511038395
juan.gao@zapworld.com

ZAP Electric Truck and Van Qualify for Federal Tax Credit

September 7, 2010 1 comment
Electric ZAPTRUCK XL from ZAP Jonway

The ZAP XL electric truck qualifies for a ten percent tax credit from the federal government.

SANTA ROSA, Calif., Sept. 7 /PRNewswire/ — An electric truck and van produced by ZAP Jonway (OTC Bulletin Board:ZAAP.obNews) qualify for a ten percent federal tax credit, up to a maximum of $2,500.

The Internal Revenue Service (IRS) has determined that the ZAPTRUCK XL and ZAPVAN Shuttle qualify under the American Recovery and Reinvestment Act for a ten percent tax credit up to a maximum of $2,500, if purchased after February 17, 2009 and before January 1, 2012 under Internal Revenue Code Section 30.

Links

“These tax credits make our ZAP electric trucks and vans even more affordable to operate,” said ZAP CEO Steve Schneider. “Combined with lower fueling and maintenance costs, which can be a third of conventional cars, this can be a great incentive for our customers to integrate electric vehicle technology into their fleets.”

The ZAP Jonway electric van.

ZAP's electric shuttle van qualifies for a ten percent federal tax credit.

ZAP’s electric trucks and vans are ideal for fixed route deliveries, utility and material handling applications.  Recently ZAP sold a small fleet to the City of Riverside in California.  ZAP has also sold vehicles to the U.S. Government, Military, Fortune 500 companies, universities, municipalities and small business owners. ZAP fleet vehicles can achieve the equivalent of over 100 miles per gallon, at a cost of about two cents per mile, and are much more economical in price and fuel consumption than conventional vehicles.

Customers should consult with their tax advisor for guidance on their specific tax situation to determine to what extent they will benefit from this tax credit. The IRS has developed the Form 8834 Qualified Plug-In Electric Vehicle Credit, which will be required to file with the Federal Tax Return that covers the date the vehicle was purchased. A copy of the form is available at http://www.irs.gov/pub/irs-pdf/f8834.pdf.

About ZAP

ZAP is one of the world’s oldest and most experienced electric vehicle providers, having delivered over 117,000 of a broad range of vehicles to more than 75 countries since 1994. ZAP supplies electric trucks and vans to military, government and corporate fleets and is an innovator of electric motorcycles, scooters and ATVs. The Santa Rosa, California based company offers some of the only electric city-speed cars and trucks in production today and is leveraging its accrued technology know-how in developing a cost effective high-speed electric car called the ZAP Alias. Further news and information is available at http://zapglobal.wordpress.com.

Contact:

Alex Campbell
ZAP Public Relations
707-525-8658 x 241
acampbell@zapworld.com

Follow

Get every new post delivered to your Inbox.