Archive - Jul 12, 2004

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ZAP secures $45 million floor plan line of credit for auto dealers

Submitted by acampbell on Mon, 07/12/2004 - 20:00.
SANTA ROSA, California (July 13, 2004) - Advanced technology vehicle company ZAP (Stock Symbol: ZAAP) says it has secured a $45 million line of credit for qualified ZAP dealers to finance their inventory, or floor plan. ZAP announced today that it has signed an agreement with Clean Air Motors, LLC (CAMCO), a wholly owned subsidiary of Eckhaus Fleet, to establish a Floor Plan for qualified ZAP dealers and to work together in expanding ZAP's auto dealer network. In June, ZAP launched a 3-cyclinder turbo that reportedly gets up to 60 MPG called SMARTto U.S. auto dealers at the National Indpendent Auto Dealer Expo at the Hyatt Reunion Convention Center in Dallas.