ZAP Exhibits Its Alias Electric Sports Car in New York City and Competes for Automotive Prize
NEW YORK, NY, October 19, 2009 – ZAP (OTC BB: ZAAP) of Santa Rosa, California, a developer of electric vehicles and electric power systems, is participating in two events this week in New York City to preview the Alias, its new electric sports car. The ZAP Alias is also in competition with other companies’ vehicles for $10 million in prizes as part of the Progressive Insurance Automotive X PRIZE, set up to foster the development of clean, production-capable vehicles that exceed 100 miles per gallon or energy equivalent.
The Alias is a 100% electric-powered, three-wheeled vehicle designed by ZAP with help from engineers in Detroit and Europe. Powered by an array of lithium batteries, the Alias can top 75 miles per hour on the highway and travel over 100 miles on one charge. It is compatible with any standard 110-volt outlet. Under its “hood” is a compact high-efficiency, air-cooled, AC-induction motor. It carries a list price of $35,000. ZAP expects to announce production plans once it has completed testing and validation.
"The Progressive Insurance Automotive X Prize will be an excellent opportunity to put the Alias through its paces," said Steven Schneider, Chief Executive Officer of ZAP. "We specifically designed the Alias for customers who are in the market for a sports car and who care about energy efficiency. With the Alias and our other products, ZAP is positioned as a leading brand and distribution portal of advanced technology vehicles."
The Alias is one of five car models on display today at an event hosted by the Progressive Insurance Automotive X PRIZE. The event is being held at the Manhattan Classic Car Club at 250 Hudson Street in Manhattan. A free public viewing of the Alias is being held from 2:00pm to 7:00pm.
On Tuesday, October 20, the Alias will once again be on display, this time at an event hosted by ZAP, during which ZAP CEO Steven Schneider will answer queries about the Alias, its innovative and energy-efficient design, and what it offers to the consumer. This event will be held at Manhattan Motorcars at 270 Eleventh Avenue in Manhattan from 11:00am to 1:00pm.
ZAP has been a leader in electric transportation since 1994, manufacturing a line of electric vehicles. ZAP supplies electric trucks and vans to military and government fleets and is an innovator of state of the art electric motorcycles, scooters, and ATVs. ZAP is volume manufacturer of some of the only electric city-speed cars and trucks in production today and is leveraging its accrued technology know-how in developing an affordable cost effective high-speed electric roadster called the ZAP Alias. For further information visit www.zapworld.com.
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The Investor Relations Group