ZAPZ -2.94 x 95 looks like they were indeed holding back up to date order tallies.
Press Release Source: ZAP
ZAP Purchase Orders Increase to more than $200 Million for High-Efficiency ZAP! SMARTCAR Next-Generation Automobile
Tuesday March 22, 6:00 am ET
Record-High Oil Prices Drive Second $100 Million in New Orders as U.S. Demand for Modern European-Made Coupe Grows
SANTA ROSA, Calif.--(BUSINESS WIRE)--March 22, 2005--ZAP (OTCBB:ZAPZ - News), 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.
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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®, 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® 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 zapworld.com. For investor-specific information, including daily and historical Company stock quote data and recent news releases, visit trilogy-capital.com. To read or download the Company's Investor Fact Sheet visit trilogy-capital.com. For recent news coverage of ZAP, visit trilogy-capital.com. To view a video about ZAP, visit trilogy-capital.com.
Cautionary Statement
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
Contact:
ZAP
Steven Kim, 707-525-8658 x 298 (Investor Relations)
skim@zapworld.com
or
Alex Campbell, 707-525-8658 x 241 (Media Relations)
acampbell@zapworld.com |
