Investors
ZAP and ETI Tech of Malaysia Sign Binding MOU for Electric Vehicle Joint Venture
SANTA ROSA, California and KULIM, Malaysia (August 19, 2009) – U.S. electric vehicle pioneer ZAP (OTC BB: ZAAP) and Malaysia’s home grown green technology company, ETI Tech Corporation Berhad (listed on ACE Market of Bursa Malaysia: 0118.KL; ETITECH), jointly announced today their intention to form a manufacturing and distribution joint venture.
ZAP and ETI Tech have signed a binding Memorandum of Understanding (MOU) for the supply of ETI Tech batteries and battery management systems (BMS) for ZAP personal transportation electric vehicles. The two companies have also agreed to joint manufacturing and distribution and expect to execute a definitive agreement within ninety days from the date of signing the MOU.
ZAP Secures up to $25 Million in New Financing.
SANTA ROSA, California (August 10, 2009) – Electric vehicle pioneer ZAP (OTC BB: ZAAP) announced today that it has secured up to $25 million in new financing with Cathaya Capital, L.P. With offices in Silicon Valley, Cathaya, L.P. is backed by financier Jacques de Chateauvieux’s Paris-based Jaccar Holdings and intends to manage the investment through its affiliate Better World International, Ltd.
ZAP will use a portion of the funding to pursue longer-term contract production and assembly commitments, and to accelerate deliveries of trucks and vans to fill current fleet and government orders.
Toyota Manufacturing Veteran Named ZAP President
Seasoned Management Team Poised For Growth
SANTA ROSA, California (June 18, 2009) ZAP (OTC BB: ZAAP) CEO Steven Schneider has named Gary Dodd, a respected manufacturing executive formerly with Toyota, as president of global operations. This recent move is seen as another step in Mr. Schneider’s plan to introduce U.S.-built electric vehicles to the masses.
According to Mr. Schneider, “Gary will bring serious depth and breadth to our management team where each senior executive has separate and distinct responsibilities such as, operations, finance, marketing, and now front-line, manufacturing expertise. Gary will guide us into volume production.”
ZAP Names Former SEC Counsel Mark Abdou to Board of Directors
SANTA ROSA, CA--(MARKET WIRE)--Jun 8, 2009 -- Electric transportation pioneer ZAP (OTC BB:ZAAP.OB - News) has appointed Mark Abdou to its Board of Directors.
Mr. Abdou was the Company's previous outside SEC counsel for over five years. He is currently the CEO and Managing Partner of Libertas Law Group in Long Beach, California.
Mr. Abdou said, "I believe it is an opportune time for ZAP as consumers increasingly look for environmentally friendly and green options, especially in the area of transportation. I look forward to my involvement in the company in working towards continued growth and progress during this exciting time."
ZAP Elects Vetran Toyota Manufacturing Exec to Board
ZAP Board of Directors Member Gary DoddSANTA ROSA, CA--(MARKET WIRE)--Jun 9, 2009 -- Electric transportation pioneer ZAP (OTC BB:ZAAP.OB - News) has elected Gary Dodd to its board of directors. Dodd, a successful entrepreneur and former Toyota executive, is the CEO of Zap Motor Manufacturing Kentucky (ZMMK), which has an exclusive U.S. manufacturing agreement with ZAP to provide a domestic manufacturing base for the company.
"Pure electric vehicles are going to be a major force in the auto industry," said Dodd. "ZAP is an established player full of innovative product ideas that offers new directions in personal and commercial transportation. It is a leader in a vital emerging American industry."
