| | Chinese Auto Manufacturer Exports First Production Electric Vehicle to US Distributor ZAP (NYSE Arca:ZP)
Tuesday August 8, 9:13 pm ET
New XEBRA Targets Market Created by Record Gas Prices in the US
BEIJING--(BUSINESS WIRE)--Aug. 8, 2006--Shandong Jindalu Vehicle Co., LTD has become the first Chinese auto manufacturer to export to the USA via distributor ZAP (NYSE:ZP - News), according to officials.
Called XEBRAs, they are the first production electric vehicles designed for US roads. The colorful, pod-shaped vehicles are now rolling off assembly lines in Dezhou City, China. Jindalu has already shipped over 100 units to ZAP in California and has the capacity to produce 1000 units per month.
The new XEBRA has been co-developed and co-designed by US auto distributor ZAP, a publicly owned company based in Santa Rosa, California. ZAP has an exclusive 10-year North American distribution contract with Shandong Jindalu to market the XEBRAs through its ZAP brand network of authorized sales and service centers. ZAP recently made shipments to five of its dealers and is in the process of selecting other licensed dealers throughout North America.
"The response has been extremely positive," says ZAP chairman Gary Starr, a 30-year veteran in electric vehicles. "All of the dealers have sold out their initial inventory and are reordering. In a time of record high gas prices, we are working to profit from this growth market."
An 11-year pioneer in alternative transportation, ZAP wants the small XEBRAs to stand out in the US -- where big cars are the norm -- with zebra-stripes or a selection of bright colors. The second micro-car ZAP is distributing in the US, the tiny XEBRA can park two to a normal parking space. It meets all U.S. Department of Transportation standards and is a true Zero Emission Vehicle (ZEV). ZAP is marketing the vehicles as an alternative for families with two or more cars as well as to government and corporate fleets.
Under the strategic business relationship, ZAP has established an office at the factory in Dezhou to continue research and development of new vehicle models and concepts.
ZAP has been a leader in advanced transportation technologies since 1994, delivering over 90,000 vehicles to consumers in more than 75 countries. ZAP is at the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, hydrogen, electric, fuel cell, ethanol, hybrid and other innovative power systems. For more information, visit zapworld.com.
Forward Looking Statements
Statements in this press release that relate to future plans or projected results of ZAP are 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended by the Private Securities Litigation Reform Act of 1995 (the "PSLRA"), and Section 21E of the Securities Exchange Act of 1934, as amended by the PSLRA, and all such statements fall under the 'safe harbor' provisions of the PSLRA. ZAP's actual results may vary materially from those described in any 'forward-looking statement' due to, among other possible reasons, the continued acceptance of ZAP's products, increased levels of competition, new products and technological changes, ZAP's dependence on third-party suppliers, intellectual property rights, and the realization of any of the other risks described in ZAP's Annual Report on Form 10-KSB, or in any of ZAP's other filings with the Securities and Exchange Commission. Readers of this press release are cautioned not to put undue reliance on forward looking statements.
Contact:
ZAP
Alex Campbell, 707-525-8658 ext. 241 (USA)
acampbell@zapworld.com
Yong Jiang, +86-534-2355026 (China)
Cell: +86-13884686579
yjiang@zapworld.com
Source: Shandong Jindalu Vehicle Co., LTD
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