California automaker and distributor ZAP (OTC Bulletin Board: ZAPZ) announced it has received more purchase orders for the Smart Car Americanized by ZAP, with orders in-hand totaling over $55 million. Last week, ZAP announced that orders had surpassed $40 million for the famous Smart Car from Europe, but CEO Steve Schneider says that ZAP is still receiving orders due to its debut at the nation’s largest auto dealer convention NADA on January 29 as well as the Company’s recent announcement that it has completed “Americanized” versions of the car. ZAP “Americanizes” the Smart Car to meet U.S. safety and emissions standards at a facility in California.
“This tiny, classy car is defying all the experts — even our own projections,” said Schneider. “We hoped the Smart Car would be a hit with rising gas prices, but everything we heard from the industry was that the micro-car was dead in the United States, even the automakers. There has been a ‘super-size’ mentality in the United States over the past few decades that bigger is better, but really smarter is better — and the Smart Car proves that. We think the Smart Car will make a big impact on our society like the beetle did 50 years ago.”
Schneider says that he expects more orders once the initial Smart Cars are shipped to U.S. dealers. The SMARTCAR enables ZAP to accelerate its business plan of establishing a ZAP auto dealer network that caters to socially responsible car buyers with advanced automotive technologies, including fuel-efficient automobiles powered by gasoline, electric, hydrogen and other fuels. The publicly owned Northern California Company made a name for itself over the past decade pioneering the market for electric cars, bikes and scooters.
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