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ZAP Proposes Endless Gas Tax Holiday With Electric Vehicles
With Presidential hopefuls talking up a Gas Tax Holiday to help consumers with rising gas prices this summer, electric vehicle pioneer ZAP (OTCBB: ZAAP) is proposing a permanent holiday from gas taxes by using electric vehicles.
ZAP electric vehicles use no gasoline so no tax need apply. To provide an additional incentive, the Northern California Company is offering a $100 rebate to customers who purchase its newest electric scooter, the Zapino. Now in stock and available for immediate delivery, the Zapino is a good way to beat record gas prices this summer, whether there is a Gas Tax Holiday or not. To receive the rebate, order online at http://www.zapworld.com through May 31st.
Perhaps ZAP can provide some electric vehicles to the Presidential hopefuls? Republican presidential candidate John McCain first proposed the idea for a Gas Tax Holiday earlier this year in which the federal gas tax would be suspended for three months to give consumers a break. Then Hillary Clinton took up the issue, which has been opposed by her political rival Barack Obama. With gas prices rising well over $3 per gallon in most parts of the country, the Gas Tax Holiday has become an important political issue for voters.
ZAP points out that its electric vehicles refuel by plugging into normal household electrical outlets. The cost of recharging the vehicle can range from one to three cents per mile depending on your electrical rates, meaning a full charge could cost anywhere from 25 to 75 cents. Meanwhile, electric vehicles produce almost no pollution, reducing automotive emissions by more than 90 percent over gasoline, even including power plant emissions to generate the electricity, according to the California Air Resources Board.
Both McCain and Clinton thought a Gas Tax Holiday would be a good idea because it would give average Americans a break from rising gas prices. Meanwhile, critics say the savings is not worth the effort. Recently 150 economists signed a statement from the Brookings Institution to oppose the Gas Tax Holiday. Their study showed that, assuming the average driver travels 4,000 miles this summer with a car that gets 20 MPG, the Gas Tax Holiday would save $18 per driver. They also said waiving the tax would encourage people to use more gasoline, generate more profits for oil companies, and threaten the record budget deficit forecasted this year.
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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