ZAP Announces Orders of $4.98 Million for SMART Car
Published: Wednesday, December 22, 2004
Automotive technology pioneer ZAP (OTC Bulletin Board: ZAPZ - News) announced it has received a second 100-unit wholesale purchase order for the SMART Car, bringing the total in wholesale fleet orders in hand to $4.98 million.
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. ZAP unveiled the SMART Car to U.S. consumers in November 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 SMARTCAR 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-Auto LLC is an independent, privately-held company that oversees the direct importation and modification of automobiles to meet U.S. standards.