ZAP (OTC:ZAPZ) has signed a $10 Million purchase agreement with SMART-Automobile LLC to be the exclusive distributor and licensed manufacturer in the United States for its 60-MPG SMART Car. With record gas prices hitting the U.S., officials at ZAP and SMART are excited to be selling one of the most fuel-efficient cars on the planet. Reports indicate that SMART cars can achieve more than 60 miles per gallon in fuel economy, rivaling hybrid gas-electric cars.
SMART-Automobile president Thomas Heidemann projects they may sell 15,000 units annually in the U.S. by 2005.
"I believe ZAP is the best partner because they have been leaders for fuel efficiency and are focused on creating an auto dealer distribution network for these types of vehicles," said Heidemann. "I wanted to be associated with a company like ZAP that has the ability to capitalize on this sort of opportunity. I have other cars in mind for ZAP's dealer network."
ZAP entered the car market in 2003 with the sale of electric cars. The company's new ZAPCAR(TM) earned five trophies at Michelin's Challenge Bibendum, the world's largest competition for fuel-efficient cars. The SMART cars will be distributed in the U.S. as part of ZAP's auto dealer program specializing in advanced transportation technologies, including more fuel-efficient automobiles powered by gasoline, electric and other fuels.
Aside from the fuel-savings, officials with ZAP and SMART-Automobile believe the styling and design of the car will have market-appeal in the United States. Like the popular Mini Cooper, the ultra-compact, two-passenger SMART cars are the product of European innovation, encompassing a number of "smart" designs to create an economical car that requires less space and fuel. SMART designers chose to create a two-passenger coupe that provides ample room for two adult passengers. At eight feet in length, the car is short enough to back into a parallel parking spot; two can park bumper-to-bumper in a single parking space.
Other "smart" features and options of the SMART car include a 61-hp, 3-cylinder turbocharged engine, equipped with an advanced electronic stabilization program, or ESP, an anti-skid design that throttles the engine torque along with an anti-lock braking system. The unique 6-speed automatic gear transmission with kickdown function allows the user to switch between "automatic" and "manual" gear shifting via a control program that changes gears in response to varying driving characteristics. There is also an emphasis on safety, with a unibody safety cell, steel-reinforced construction, higher passenger elevation for enhanced visibility, and front and rear "crashbox" low-speed dent resistant panels. The SMART package is rounded out with additional sport features and options like dual airbags, power winders, power locking and options like air-conditioning and convertible roof.
The new SMART cars are available to ZAP dealers in select states. For dealer and sales information, visit http://www.zapworld.com or call +1-707-525-8658.
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