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|The Ortiz family and staff at Foreign Affairs Auto planted a tree on Earth Day to commemorate their new electric car dealership for ZAP (www.zapworld.com) in West Palm Beach, Florida.|
As oil and gas keep hitting new records this week, an electric car dealership opened in West Palm Beach, Florida offering a new affordable design for city-speed driving called the ZAP (OTCBB: ZAAP) Xebra.
Foreign Affairs Auto (http://www.foreignaffairsauto.com), located at 1681 N. Military Trail in West Palm Beach, is now offering the Xebra®, an electric four-door compact car or two-seat pickup that transforms into a flat-bed or a dump truck. The vehicle was designed for gas-free, city driving up to 40 MPH and plugs into any normal household outlet.
Foreign Affairs officially launched its electric cars on Earth Day with the planting of a tree to signify another way to fight global warming. The dealership has already sold several Xebras in its test-marketing and finds that the majority of the initial sales are coming from businesses, with two of the first vehicles being used for landscaping and pizza delivery. More consumers have started buying them as they learn they are available and see them driving around town.
Family owned and operated since 1982, Foreign Affairs is branching out into gas-free electric vehicles to stay on the cutting edge of transportation. Studies show electric vehicles can reduce air pollution and ownership costs compared to gasoline. The vehicles are priced a little over $11,000 and are estimated to cost between one and three cents per mile. ZAP says an electric car can reduce fueling, maintenance and operating costs, and overall they are about half the cost of owning a gasoline car.
"My family started this dealership 26 years ago with the idea of offering a premium level of products and service," says Jonathan Ortiz of Foreign Affairs. "As part of the next generation, I believe the best way to reach the next level for our business is to get in on the ground floor of advanced automotive technologies. Our new division, Foreign Affairs: Zero, will be marketing vehicles like the ZAP Xebra."
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 has a joint venture called Detroit Electric to manufacture electric and hybrid vehicles with Youngman Automotive Group, one of China's leading manufacturers of buses and trucks. Detroit Electric is developing a freeway capable electric vehicle called the ZAP Alias in collaboration with Lotus Engineering. ZAP is also developing a new generation of vehicles using advanced nanotech batteries with Advanced Battery Technologies. 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.
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 detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
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