Gas Prices Hit $4, ZAP Electric Car Deliveries Top 700
MIAMI, FL, Apr 16, 2008 - ZAP (OTCBB: ZAAP) - Electric car interest is picking up as gas prices push toward record highs, according to US electric car dealers.
AP reported that retail gasoline prices rose to a new average national record of $3.386, according to a survey by AAA and the Oil Price Information Service. Prices were highest in California, where mid-range and higher grades are now averaging more than $4 a gallon.
AAA said gas prices are becoming a top priority with consumer surveys. Some are starting to buy gas-free, rechargeable battery powered electric cars. ZAP has delivered more than 700 of its Xebra electric city-cars and trucks. The Northern California company is developing a nationwide network of dealers with locations opening in places like Davis, California, Leavenworth, Kansas and West Palm Beach, Florida.
Recent controversy over laws mandating the production of electric cars brought consumer demand into question, with automakers saying consumers are much more likely to buy hybrids than pure electric cars. Still some persist saying demand is growing and there are few vehicles on the market to fill the demand for electric cars.
"The ZAP Xebra was the only production EV available that could obtain such speeds and actually be driven on regular roads," wrote electric car dealer Jonathan Ortiz of Foreign Affairs Auto in West Palm Beach. "I kindly invite anyone in disbelief to enter my showroom doors to see first-hand simple evidence that an Electric Vehicle Dealership can be viable."
Experts talk about many ways of saving gas, but electric vehicles have shown to be very cost-effective compared to gasoline. Your average gas fill-up can cost over $60, yet a vehicle like the ZAP recharges for about 60 cents. Typical customers are homeowners and fleet operators. More power companies and public utility companies are offering off-peak metering plugs that can save even more.
ZAP is developing a range of electric vehicles along with its sales and service network. Based in Santa Rosa, California, ZAP is expecting dealers and distributors from around the world at its next service training and seminar for prospective electric vehicle outlets, scheduled for April 25, 2008. To sign up or to arrange a test drive of an electric Xebra go to http://www.zapworld.com.
This press release contains forward-looking statements. 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.
ZAP is a featured Company on Investorideas.com Green portals, China portal and Tech portal.
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Contact:ZAPAlex Campbell707-525-8658 ext. 241acampbell@zapworld.com
Source: ZAP
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ZAP is doing good work by giving people the option of buying an Electric vehicle. I think they have a lot of varied products, two wheelers and cars. I have found that more dealers are becoming interested in acquiring dealerships for concept cars. I look forward to seeing what else ZAP comes up with and when.
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