Archive - 2003

SANTA ROSA, California (July 21, 2003) - During an interview with MoneyTV, Steve Schneider, Chief Executive Officer of ZAP (OTC BB:ZAPZ), announced that the Company has placed an order for 50 of its new ZAP L.U.V.™ neighborhood electric cars from its manufacturing partner in Europe.

ZAP is now taking orders for the new car and is recruiting dealers to distribute them nationwide. The ZAP L.U.V. (Light Utility Vehicle) is a new kind of automobile called a Neighborhood Electric Vehicle (NEV). The U.S. Department of Transportation created the new category of automobile for the many car trips people take for inner-city transportation, planned communities, commercial zones, and tourist districts.

SANTA ROSA, Calif. (July 1, 2003) - Electric transportation developer ZAP (OTC BB:ZAPZ) announced today that it has signed an agreement with Valence Technology Inc. (Nasdaq:VLNC), a leader in the development and commercialization of Saphion™ technology and Lithium-ion polymer rechargeable batteries, to distribute the N-Charge™ Power System that provides up to 10 hours of power for portable computers.

SANTA ROSA, California (June 13, 2003) - Used car dealers across the country can attain 'New Car Dealer' status by offering advanced transportation, according to industry pioneer ZAP (OTC BB:ZAPZ).

During a press conference today at the National Independent Auto Dealer Association (www.niada.com) annual meeting, ZAP Chief Executive Officer Steven Schneider is announcing a program to establish a nationwide auto distribution network for ZAP's line of advanced technology vehicles. A 20-year veteran in the used car business, Schneider says he has been studying a number of ways of becoming a 'New Car Dealer.'

AS VEGAS, Nevada (May 23, 2003) - Electric transportation developer ZAP (OTC BB:ZAPZ) is showcasing an array of battery-powered vehicles at the 'Buy Here, Pay Here' auto dealer convention in Las Vegas, Nevada, May 21 - 23, 2003.

The National Association of Buy-Here, Pay-Here Dealers (NABD) was formed to promote the interest of self-financed dealers throughout the nation. NABD officials say this will be the largest gathering of Buy Here, Pay Here dealers ever held, with more than 1000 independent auto dealers from across the country.

SANTA ROSA, California (May 15, 2003) - Electric vehicle pioneer ZAP (OTC BB:ZAPZ) today announced its financial results for the quarter ended March 31, 2003. Company officials noted that sales were up for the quarter, while losses were down.

Net sales for the quarter ended March 31, 2003 were $1.5 million, compared to $420,000 in the prior year, an increase of $1,080,000 or 257 percent. ZAP's auto dealership subsidiary RAP Group posted sales that accounted for $ 1.1 million. ZAP's consolidated net loss decreased to $440,000 for the quarter, from $560,000 for the prior year, a decrease of $120,000 or 21 percent. The total consolidated assets also increased to $7.8 million, from $3.3 million in 2002.