ZAP Rolls Out Electric XEBRA to First ZAP Car Dealers

Submitted by acampbell on Mon, 07/10/2006 - 20:00.

ZAP Rolls Out Electric XEBRA to First ZAP Car Dealers

New Electric Vehicle Appears to Be the Only Cost-Effective Alternative in the Nation as Oil Futures Hit Record High

SANTA ROSA, CA--Jul 11, 2006 -- Automotive pioneer ZAP (OTCBB:ZAAP) announced today amid new record oil prices that it has delivered the first of its new XEBRA(TM) electric vehicles to five ZAP car dealerships in California, Arizona, Florida and two in Oregon.

Electric cars are alive and well in Hollywood, according to ZAP, who held a demonstration at the opening of the film 'Who Killed the Electric Car?' A George look-a-like adds fun by inviting pedestrians for a drive in the Xebra.

BusinessWeek Online reported yesterday that August futures for light sweet crude reached a record of $75.78 per barrel in electronic trading on the NYMEX. Economists say that gas prices have not had a massive impact on the economy as a whole, but the $3.00-plus per gallon price tag has been harder on consumers, wiping out wage increases over the past 12 months.

The XEBRA is now in production in China for export to ZAP Dealers in the United States.

Some are already making the choice to start driving electric. So far this summer, ZAP has seen interest surge for the XEBRA, with concerns over rising gas prices generating over half a million dollar backlog in XEBRA orders from dealers and fleet buyers. ZAP calls the XEBRA a 'City-Car,' designed to travel at a top speed of 40 MPH and pricing under $10,000. ZAP's idea with the XEBRA is to create an economical alternative to gas cars, useful for around town fleet driving or multi-car families.

"Everyone keeps talking about this new documentary 'Who Killed the Electric Car?' but electric cars are alive and well at ZAP," said CEO Steve Schneider.

A publicly owned company based in Northern California, ZAP's business plan is to establish a dealer network marketing advanced technology vehicles. ZAP is also working to develop other vehicles as part of its automotive business plan, including a new ethanol powered micro-car from Brazil.

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