ZAP CEO and Al Yousuf COO Show Support for Kentucky Governor Signing Executive Order for 40 MPH Electric Car
FRANKFORT, KY -- Aug 6, 2008 -- Steve Schneider, CEO for ZAP (OTC BB:ZAAP.OB) and Ashraf Saeed, COO of the Al Yousuf Group, stood by while Governor Steve Beshear yesterday signed an Executive Order directing the Transportation Cabinet to immediately develop and implement an emergency regulation authorizing the use of low-speed electric vehicles on Kentucky's roadways, including the Xebra, a 40 MPH electric car and truck.
ZAP CEO Steve Schneider and Al Yousuf COO Ashraf Saeed (2nd and 3rd from right) witnessed Governor Steve Beshear signing an Executive Order allowing the 40 MPH Xebra electric car and truck on Kentucky roads.
"Kentuckians, like all Americans, are hard hit by record-high gas prices," Gov. Beshear said at a news conference today announcing the order. "These tough times call for creative solutions, and I believe allowing Kentuckians the option of using an electric vehicle is one of those solutions. Electric vehicles may help ease the burden on the pocketbooks of hard-working Kentucky families, as well as reduce their carbon footprint."
ZAP CEO Steve Schneider and Al Yousuf COO Ashraf Saeed (2nd and 3rd from right) attended the announcement.ZAP CEO Steve Schneider attended the press conference for the Governor's announcement as an invited guest by the State of Kentucky and officials with Integrity Manufacturing of Shepherdsville. Following the announcement Schneider and Governor Breshear got away from the press to talk and take a spin in a ZAP Xebra.
Mr. Ashraf Saeed, Chief Operating Officer of the Al Yousuf Group, accompanied Schneider on the visit. A trading conglomerate based in Dubai, the Al Yousuf Group has provided nearly $15 million in capital over the past year to help ZAP increase its electric vehicle manufacturing, marketing and distribution. Schneider said both he and Saeed were very impressed by the visit and plan to explore ways of working with Kentucky to expand the use of electric vehicles.
"Never have we received such hospitality and such overwhelming enthusiasm for electric vehicles as exhibited by the Governor and every single person we met while in Kentucky," said Schneider. "Seeing such a swift reaction by the Kentucky government in favor of ZAP affirms our belief that the time is now for electric transportation to play a greater role in society. We all want to build better transportation and it doesn't matter if you live in Kentucky or California, the dream is everywhere."
About ZAP
ZAP has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. ZAP is positioning its business at the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, electric, hybrid and other innovative power systems. ZAP currently manufactures the Xebra, a city-speed electric car and truck manufactured through a joint venture between ZAP and a Chinese automaker. ZAP has a joint venture called Detroit Electric to manufacture electric and hybrid vehicles with Youngman Automotive Group. Detroit Electric is developing a freeway capable electric vehicle called the ZAP Alias. Future plans for the venture are dependent upon both parties receiving outside financing. ZAP is also developing a new generation of vehicles using lithium batteries. The Company recently announced a strategic partnership with Dubai-based Al Yousuf Group to expand its international vehicle distribution. ZAP also makes an innovative, new portable energy technology that manages power for mobile electronics from cell phones to laptops. For product, dealer and investor information, visit 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.
Contact:
Alex Campbell, ZAP
707-525-8658 x 241
acampbell@zapworld.com
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Historic Moment for ZAP
The Governor put it in a nutshell when he said "Electric vehicles may help ease the burden on the pocketbooks of hard-working Kentucky families, as well as reduce their carbon footprint.", that is basically what EVs are all about.
Wish We Had this Law in California
The sun's nature's electricity storage tank, whether Edison International says "Electricity can't be stored" or not. Petroleum and natural gas too are stored underground, so the relevant questions are: whether we want virtually free and environmentally clean power, or dirty and dangerous "I dig in the dirt" cavemen energy.
I already have a 36 Volt "golf cart" type vehicle that uses three solar panels to charge the batteries directly, no inverter changing the solar modules' DC power to 120 Volt AC grid power needed, and this reduced my grid electric bill by up to $40 per month (at 2 hours per day horse ranch use). Vehicles like the Zap would need more solar panels, connected in series, to reach the often 72 Volt DC electric OS.
Also, this direct PV charging almost doubles the battery life, since the photovoltaic "slow charge" is the highest quality available, and the "always-plugged-in" when at the house, hopefully someday at working and store parking sites too, prevents the worst cause of battery damage, an extended highly discharged battery state of charge.
Fly in the ointment:
I've noticed tons of new houses going up with almost no back yards, however, and tiny front yards too. While the roofs of these new typical tract houses may be large enough to power the entire house with solar photovoltaic modules (panels), extra solar PV panels and storage batteries, redily available now and lasting ten years mostly (most high quality PV panels last from 25 to 40 or more years), to charge any electric car or truck day and night, will be the ultimate in efficient renewable energy consumer applications, residential and commercial.