ZAP Announces Second High-Performance Electric Vehicle

Press Release

Similar Technology, Expected Sooner than ZAP-X

Electric car pioneer ZAP (OTC BB: ZAAP) is launching a new development program for a high-performance electric vehicle that is affordable for consumers. ZAP says that the initial concept phase for the new vehicle is complete. The targeted price is $30,000, top speed in excess of 100 mph and range of 100 miles per charge. Many of the technologies already specified for the ZAP-X electric car concept will be applied to the new vehicle, but delivery is expected to be sooner than the ZAP-X. CEO Steve Schneider said more details of the new vehicle will be presented at the annual shareholder meeting, July 29 in Santa Rosa, California. "With ZAP's experience over the past 12 years and the groundwork we have already laid, we know that electricity is the future of the auto industry," said Schneider. "At the same time, we believe we have a design that will serve a niche no other manufacturer in the auto industry is seeking to fill." Today, ZAP is selling an innovative electric car and truck design called the XEBRA for about $10,000 that travels speeds up to 40 MPH. Schneider says the XEBRA was designed to fill the growing niche for city-speed electric vehicles. ZAP is marketing them towards government and municipal fleets as well as short-distance commuters. ZAP sells the XEBRA through an authorized dealer network of sales and service centers. ZAP is developing a number of vehicles for its automotive business plan. Earlier this year, ZAP introduced a high-performance compact, or crossover, SUV concept called ZAP-X. ZAP also has ventures to build cars in China and Brazil.