ZAP Expands Presence in China
10 Janeiro 2005 - 10:26PM
PR Newswire (US)
ZAP Expands Presence in China Acquires Chinese Manufacturing Plant
SANTA ROSA, Calif., Jan. 10 /PRNewswire-FirstCall/ -- Advanced
transportation pioneer ZAP (OTC:ZAPZ) (BULLETIN BOARD: ZAPZ) is
expanding its business activities in China with the announcement
today of a joint venture Company, ZAP (China) Ltd., to leverage
China's emerging manufacturing capabilities. ZAP will take the lead
as the parent company in ZAP (China) with an 80 percent ownership
stake in the joint venture Company. ZAP (China) will finish its
first phase of development with the completion of a 1,280 square
meter manufacturing and assembly facility in Nanchang. ZAP CEO
Steve Schneider envisions expanding the ZAP (China) facility to
create a ZAP Technology Center utilizing the surrounding 45-acre
business complex for manufacturing, assembly, quality control,
research and development and more. "We are excited about the growth
potential of China in manufacturing as well as one of the world's
fastest-growing consumer markets," said Schneider. "ZAP is becoming
one of the most recognized names in the emerging advanced
automotive and energy markets, and these ventures in China help ZAP
move towards its goal of creating a global consumer brand for this
market." Schneider says a major focus for ZAP (China) will be the
development and manufacturing of fuel cell technologies and
advanced battery technologies. ZAP recently signed an exclusive
distribution agreement with fuel-cell maker Anuvu Incorporated for
the development of hydrogen-electric fuel cell hybrids. ZAP is also
part owner of Zibo Enterprises, a Chinese-based manufacturer and
developer of lithium-based battery technologies. ZAP is working to
create a national distribution network in the U.S. that caters to
fuel-efficient car-buyers with advanced automotive technologies,
including cars that run on electricity, hydrogen and other fuels.
ZAP is also packaging some of its "spinoff" technologies for
consumer elecronics, including its recent launch of a new line of
portable energy systems for laptops and cell phones as well as the
establishment of a new division to target business opportunities in
advanced energy technologies. About ZAP ZAP has been a leader in
clean transportation technologies since 1994, delivering more than
85,000 vehicles 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
technology vehicles, including electric cars, bicycles, scooters,
motorbikes, underwater scooters and more. For more information,
visit http://www.zapworld.com/ or call 707-525-8658.
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, Alex Campbell, +1-707-525-8658,
ext. 241, or , or investors, Steven Kim, +1-707-525-8658, ext. 298,
or , both of ZAP Web site: http://www.zapworld.com/
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