Subject:
ZAP Press Release 1
Date:
Wed, 18 Mar 1998 10:27:34 -0800
From:
ZAP Power Systems <zap@zapbikes.com>
To:
zap-list@lists.sonic.net
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-------------------------------------------
CENTRAL AND SOUTH WEST SIGNS $1 MILLION CONTRACT WITH ELECTRIC VEHICLE
MAKER ZAP POWER SYSTEMS
SEBASTOPOL, CA (March 18, 1998) - ZAP Power Systems (OTCBB:ZAPP-news)
announced that it has signed an agreement with CSW Total EVO, an
unregulated business of Central and South West Corporation (NYSE:CSR-news).
"CSW is committed to electric transportation and electric bikes fit nicely
into our lineup," said Ron DeFatta, managing director of CSW Total EV. "We
look forward to growing with ZAP in the expanding electric bike market."
"Partnering with an electric power company was natural for us," said Gary
Starr, managing director of ZAP. "Due to concerns about air pollution,
studies have shown electricity will be the fuel of the future, so it was
logical to form this relationship with CSW."
"The challenge that all other electric vehicle companies face is the
battery," said Bill Watson, executive vice president for Centennial Capital
Management, a San Jose-based investment banking firm. "The ZAP-CSW
strategy makes practical sense for today's marketplace. When a battery is
added to a bike, the rider can go faster and further than on a conventional
bike!"
Central and South West Corporation is a global diversified public utility
holding company which last year had sales in excess of $5 billion,
providing service for approximately 4 million people. CSW recently became
the first electric utility system to take delivery of the first
factory-built Chevrolet S-10 Electric Pickup.
CSW (web site: www.csw.com) intends to market ZAP products through a
specialized distribution network covering an eight-state region, pending
SEC approval.
ZAP is a Sebastopol based manufacturer of electric bikes, electric scooters
and other electric vehicles. ZAP has sold approximately 9,000 electric
vehicles to customers in over 45 countries. ZAP may be contacted at
800-251-4555 or at www.zapbikes.com. |
