ZAP (OTCBB: ZAPZ), a company pioneering next generation advanced transportation and energy technologies, has crossed the $100 million threshold for purchase orders for its SMARTCAR high gas mileage vehicles.
Steve Schneider, CEO of ZAP, said, “The high rate of purchase orders we’ve been booking for the Smart Car confirms the American public is eager to purchase cars that will help drivers save significantly on gasoline costs as well as enable them to take meaningful steps to protect the environment. We believe the Smart Car, which is already a major success throughout Europe, will define the next generation of fuel-efficient and hip transportation for Americans.”
The new orders follow the Company’s announcement last month totaling $55 million from dealers who want to supply consumer demand for cars that provide substantial advantages in gas mileage, in a safe and stylish vehicle. The Smart Car debuted for dealers in January, at the annual convention of the National Automobile Dealers Association Dealers (NADA) in New Orleans. The Company booked approximately $21 million in purchase orders at that convention and anticipates it will receive continuing SMARTCAR purchase orders from U.S. dealers as it further expands its national dealer network for its line of innovative ZAP Cars.
ZAP “Americanizes” the European-made Smart Car to meet U.S. safety and emissions standards at its facility in California. The small and maneuverable SMARTCAR is one of the most fuel-efficient internal combustion vehicles available. With the ability to park in the space of a motorcycle, the two-passenger SMARTCAR coupe is designed to address many of the serious problems of crowded urban traffic and rising fuel prices. Additional SMARTCAR design features include advanced “crashbox” low-speed dent-resistant body panels, dual airbags, performance engine and transmission technology, and a range of standard features and options.
ZAP also produces all-electric cars, scooters, bikes and ATVs.