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|Veteran automotive and technology executive Albert Lam has joined the management team at electric car pioneer ZAP as part of a new manufacturing joint venture in China. He is joined in a Xebra electric truck with ZAP CEO Steve Schneider (left), Chairman and Co-Founder Gary Starr (right) and former United Shuttle President and Chief Operating Officer Amos Kazzaz (top).|
Albert Lam, former CEO of Lotus Engineering, has been selected by electric car pioneer ZAP (OTCBB: ZAAP) to take the lead on engineering projects for its new joint venture with China Youngman Automotive Group.
SANTA ROSA, CA -- 11/02/07 -- Albert Lam, former CEO of Lotus Engineering, has been selected by electric car pioneer ZAP (OTCBB: ZAAP) to take the lead on engineering projects for its new joint venture with China Youngman Automotive Group.
During his visit to California, Mr. Lam met with officials from Advanced Battery Technologies (AMEX: GBT). Advanced Battery Technologies is scheduled to ring the opening bell today as part of their new listing on the American Stock Exchange.
A British National with offices in the UK and China, Mr. Lam spent the past two weeks in California holdings meetings with ZAP and its key technology partners to develop plans for a joint venture with one of China's leading vehicle manufacturers, Youngman Automotive Group. Mr. Lam has been named Chairman of the new Joint Venture Company being established between ZAP and Youngman. ZAP has also named Mr. Lam to its Board of Directors.
Mr. Lam was instrumental in discussions with ZAP's strategic technology partners to create an implementation plan on the development and engineering for a number of electric and hybrid drive vehicles for the joint venture, including luxury coaches, buses, trucks and passenger cars. ZAP CEO Steve Schneider says Mr. Lam brings a wealth of engineering and implementation experience to ZAP's management.
"Albert Lam's implementation and project planning expertise is helping us make headway with several projects and we look forward to announcing these soon," said ZAP CEO Steve Schneider.
During his visit to California, Mr. Lam and ZAP CEO Steve Schneider held meetings with Advanced Battery Technologies and strategic distribution partner CCT Power in Beverly Hills. Advanced Battery Technologies has agreed to supply its battery technologies for ZAP's Recharge-It-All and iZAP rechargeable battery systems. Plans are being developed to begin engineering the new batteries for incorporation into ZAP's portable battery systems for mobile electronics. ZAP and Advanced Battery Technologies plan to release more details on the venture in the near future.
"We look forward to testing Advanced Battery Technologies' new, ultra-thin, small polymer lithium-ion battery and other batteries for all our projects," said Mr. Lam. "We are now putting in place a joint project implementation plan to develop an all electric drive concept demonstrator vehicle to integrate all the key technology components."
Mr. Lam held meetings with several of ZAP's strategic partners, suppliers and potential suppliers to explore what technologies will be suitable for the new joint venture. Mr. Lam has more than 20 years' experience in technology and engineering, including senior level management. He spent 13 years in the auto industry with Ford, Jaguar, Land Rover and most recently with Lotus. Mr. Lam has also worked in senior executive positions at Sun Microsystems and Apple Computer.
During his visit to ZAP in California, Mr. Lam also met with representatives from the State of California to explore ways they can cooperate on the development of new technologies and an infrastructure that would support the use of electric and plug-in hybrid technologies.
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 also 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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