ZAP announces $2.98 million in purchase orders for SMART Car
December 07 2004 - 1:32PM
PR Newswire (US)
ZAP announces $2.98 million in purchase orders for SMART Car
SEBASTOPOL, Calif., Dec. 7 /PRNewswire-FirstCall/ -- Automotive
technology pioneer ZAP (OTC BB:ZAPZ) announced today it has
received wholesale purchase orders for the SMART Car totaling
$2,980,000 from U.S. automotive dealers. ZAP is in discussion with
a number of government and corporate fleets as well as automotive
wholesale dealers for purchase orders of 100 or more cars by
December 31, 2004 due to U.S. small manufacturers limitations. ZAP
unveiled the SMART Car to U.S. consumers last week at the San
Francisco International Auto Show, announcing that the U.S.
Environmental Protection Agency has issued a Letter of Conformity.
This regulatory approval clears the way for ZAP to begin organizing
U.S. marketing and distribution for the SMART Car. ZAP has an
exclusive distribution contract with SMART-Automobile LLC for the
rights to sell the cars in the United States with a near-term goal
of 150 dealer outlets by second quarter of fiscal year 2005. The
SMART car enables ZAP to execute its new 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. SMART-Automobile LLC
is an independent, privately-held company that oversees the direct
importation and modification of automobiles to meet U.S. standards.
About ZAP ZAP has been a world leader in cleaner 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 http://www.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. 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. DATASOURCE: ZAP CONTACT: Media Relations:
Alex Campbell, ext. 241 or , or Investor Relations: Steven Kim,
ext. 298 or , both of ZAP, +1-707-525-8658 Web site:
http://www.zapworld.com/
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