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Record gas prices are driving more consumers to seek electric transportation, says industry pioneer ZAP (OTCBB: ZAAP). The Northern California Company reported that as of April 8, 2008 it had $6.8 million in backlog orders for the Xebra electric sedan and pickup from auto-dealer purchase contracts.
The $6.8 million backlog in dealer purchase contracts surpasses ZAP's sales for all of 2007 and are based on a delivery schedule over a 12-month period. The backlog for ZAP's consumer products on the same date was $712,000, including sales for the Zapino and ZAPPY3 scooters, ATVs, Recharge-It-All battery systems and others.
ZAP designed the Xebra as a simple alternative to the growing demand for electric cars. The vehicle is suitable for city-speed driving, commuting and fleet use, situations where electric vehicles can be more economical than gasoline cars.
"As I researched more into the EV market I found that the ZAP Xebra was the only production electric vehicle available that could obtain such speeds and actually be driven on regular roads contrary to the governed LSV," writes electric car dealer Jonathan Ortiz of Foreign Affairs Auto in West Palm Beach, Florida. "I began to understand there are literally hundreds of ideal applications and usages that the XEBRA could fill."
Ortiz was recently featured in an Internet podcast interview about electric car dealerships. Use the link below to hear the full interview:
"My silly little ZAP truck gives me more satisfaction then any ICE I have ever owned, and I am a car buff," says electric vehicle dealer Sean Rarey of Grants Pass, Oregon. "I do not use gas unless I am going out-of-town. Honestly, I think the price of gas is contributing to the decline of our economy while big oil gets fatter and fatter off the profits."
ZAP is working to create a dealer network that for its full-line of electric vehicles and future vehicles as they become available. Surging consumer demand has seen ZAP's number of dealers grow from about 20 automotive dealers in April 2007 to over 50 today.
ZAP holds a monthly dealer training for the sales and service of the Xebra. The next dealer training is scheduled for May 30th with some dealers coming from as far away as New Zealand.
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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