Archive - Sep 16, 2003

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ZAP Signs Deal with China

Submitted by acampbell on Tue, 09/16/2003 - 20:00.
SANTA ROSA, California (September 16, 2003) - ZAP (OTCBB:ZAPZ), the Northern California electric vehicle pioneer, announced today it has signed an exclusive agreement to import electric automobiles from China. ZAP believes this to be one of the first times production cars made in China would be imported into the United States. ZAP has signed an exclusive agreement with Heibao Group Co., Ltd. of China to distribute the new electric car in the United States, Central America and South America. Heibao is privately owned with 3,000 employees. Its 140,000 square foot facility has the capacity to produce 100,000 vehicles per year. One of its subsidiaries, Shandong Heibao Stock Co., Ltd. has been publicly traded on the Shanghai Stock Exchange since 1996.