Electric vehicle maker ZAP inks deal with Chinese carmaker

ZAP (NYSE Arca: ZP), Zero Air Pollution has signed an agreement to form a joint venture with China auto manufacturer Shandong Jindalu Vehicle Company Ltd. The joint venture involves designing and manufacturing of a new generation of low cost advanced transportation vehicles that run efficiently on gas, electricity, ethanol and other advanced technologies and fuels.

More than half of petroleum produced is used to fuel transportation, according to officials from ZAP and Shandong Jindalu. Petroleum is a major contributor to global warming and pollution which damage the environment.

ZAP has established an office in Dezhou, China, to facilitate the joint venture. Officials from ZAP and Shandong Jindalu expect to announce more developments shortly. Entrepreneurs, capitalists, governmental and educational institutions throughout China and the world have been invited to join in the effort. Those in the industries of energy storage, battery manufacturing, solar energy, engine development, new material design, automobile manufacturing and parts and supplies as well as engineering and design are encouraged participate.

"Our work with ZAP's various micro-cars like the cost effective electric XEBRA has shown that new approaches to transportation are possible," said Gary Starr, Chairman of ZAP. "Visionary dealers are taking the pioneering steps to offer our new lines of vehicles. Scientists, climate and pollution data and the current state of affairs as well as the price of oil are telling us that we must change our ways. What is needed is real leadership. We are proud to be part of a true collaboration between the USA and China in the manufacturing, design and distribution of our first generation of ZAP cars."

Starr added that much more can be done. The purpose of the joint venture is to further develop these ideas and distribute new generations of low cost energy efficient vehicles throughout the world, including a high efficiency gas vehicle and other electric vehicles.

"Although many companies talk about doing things for the environment, we are proud to be part of a joint venture in which both parties are dedicated toward bringing vehicles to the market that can bring not only good returns to our shareholders, but the planet as well," said Mr. Lu, President of Shandong Jindalu.

"We have searched all through China, and have found Mr. Lu to be unique in his entrepreneurial spirit. Having worked closely with him for over one year, we feel we have found a trustworthy and dedicated partner, and we invite other entities to join with us in this venture," said Starr.

For more information:

www.zapworld.com

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