ZAP's Smart Car Orders Leap Again to Over $55 Million
SANTA ROSA, Calif., Feb 08, 2005 /PRNewswire-FirstCall via COMTEX/ --
California automaker and distributor ZAP (OTC Bulletin Board: ZAPZ) announced
today that it has received more purchase orders for the Smart Car Americanized
by ZAP, with orders in-hand totaling over $55 million.
Last week, ZAP announced that orders had surpassed $40 million for the famous
Smart Car from Europe, but CEO Steve Schneider says that ZAP is still receiving
orders due to its debut at the nation's largest auto dealer convention NADA on
January 29 as well as the Company's recent announcement that it has completed
"Americanized" versions of the car. ZAP "Americanizes" the Smart Car to meet
U.S. safety and emissions standards at a facility in California.
"This tiny, classy car is defying all the experts -- even our own projections,"
said Schneider. "We hoped the Smart Car would be a hit with rising gas prices,
but everything we heard from the industry was that the micro-car was dead in the
United States, even the automakers. There has been a 'super-size' mentality in
the United States over the past few decades that bigger is better, but really
smarter is better -- and the Smart Car proves that. We think the Smart Car will
make a big impact on our society like the beetle did 50 years ago."
Schneider says that he expects more orders once the initial Smart Cars are
shipped to U.S. dealers. The SMARTCAR enables ZAP to accelerate its business
plan of establishing a ZAP auto dealer network that caters to socially
responsible car buyers with advanced automotive technologies, including
fuel-efficient automobiles powered by gasoline, electric, hydrogen and other
fuels. The publicly owned Northern California Company made a name for itself
over the past decade pioneering the market for electric cars, bikes and
scooters.
About ZAP
ZAP has been a world leader in advanced transportation technologies since 1994,
delivering its award-winning ZAP vehicles and energy products to customers in
more than 60 countries. A public company, ZAP is traded on the Over-the-Counter
stock exchange under the symbol ZAPZ. The company offers a variety of advanced
technologies and vehicles, including cars, bicycles, scooters, motorbikes,
underwater scooters and more. For more information, visit
zapworld.com or call 707-525-8658 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-Auto LLC.
SOURCE ZAP
CONTACT: media, Alex Campbell, ext. 241, or acampbell@zapworld.com, or investors, Steven Kim,
ext. 298, or skim@zapworld.com, both of ZAP, +1-707-525-8658
URL: prnewswire.com
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