ZAP receives new orders for 2,300 electric cars

Electric car maker ZAP (BULLETIN BOARD: ZAAP) today announced it has received purchase orders for 2,300 electric cars from 19 dealers at the National Automobile Dealers Association (NADA) annual convention and exposition this week in Las Vegas.

ZAP showed its lineup of existing and future automotive products at NADA's annual exposition, including the new ZAP-X crossover, XEBRA truck and OBVIO! 828 micro-sports car (see the Cleantech Group's Look out Tesla... ZAP building electric supercar.)

ZAP says that 12 new dealers and 7 existing ones placed signed, non-cancelable purchase orders for 2,300 electric cars in total.

ZAP Chief Executive Officer Steve Schneider said rising oil prices and concerns over energy independence are driving renewed interest in electric car technology. The auto dealer market is so competitive, Schneider believes electric cars are just what many dealers are looking for to attract more customers and build their business.

"NADA is such a busy event for auto dealers, but the excitement for electric cars was at such a high level that 19 dealers committed right on the spot," said Schneider. "We also had more than 300 dealer inquiries at the end of the show, so we expect this number to grow as these dealers return home and have the time to review the opportunity."

ZAP has been developing or marketing advanced transportation technologies since 1994. ZAP is shipping or exploring vehicles based on new technologies, including efficient gas systems, hydrogen, electric, fuel cell, ethanol, hybrid and others.

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