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Coca-Cola and alternative transportation pioneer ZAP (OTCBB: ZAAP) announced that they have signed an agreement to use ZAP vehicles in South America.
ZAP has signed an agreement with Coca-Cola's Latin America subsidiary, Montevideo Refrescos Sociedad SA (Monresa). The contract is a purchase and service agreement for ZAP XEBRA® trucks. The first container of ZAP trucks is in transit from China and more details are expected to be announced with the rollout of the business model between ZAP and Coca-Cola.
"ZAP can help companies like Coca-Cola take a lead in corporate social responsibility," said Fernando Cancela, ZAP Director of International Affairs. "This new business model with ZAP can help Coca-Cola reduce fuel consumption and carbon emissions in the a way that is good for business and the environment."
ZAP is expanding the distribution for the XEBRA worldwide as part of a strategic partnership with Shandong Jindalu vehicle company of China. ZAP is now distributing the cars and trucks designed for city-speed transportation for about $10,000.
ZAP recently formed a joint venture with one of China's newest car companies, Youngman Automotive Group, to manufacture highway capable electric and hybrid cars, buses and trucks.
ZAP has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, hydrogen, electric, fuel cell, ethanol, hybrid and other innovative power systems, ZAP is developing a high-performance crossover SUV electric car concept called ZAP-X engineered by Lotus Engineering. ZAP is developing a new generation of vehicles using advanced nanotech batteries with Advanced Battery Technologies. The Company recently launched a 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 .
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. 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 detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
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