ZAP (OTCBB:ZAPZ)has cleared the final regulatory hurdles to sell Europe’s energy efficient Smart Car in the U.S.
The company also announced it has received over three-quarters of a billion dollars in advance purchase orders for the fuel-efficient microcar. ZAP CEO Steve Schneider made the announcement at an event held in Santa Ana, California, home of the facility where ZAP has the European-made Smart Car converted to meet all American emissions and safety standards. He formally handed the keys of the first Americanized Smart Car to Santa Ana Mayor Miguel Pulido at City Hall, who then took the unique coupe on a celebratory test drive to the Smart Car conversion facility three miles away, at G&K Automotive Conversions. A ribbon-cutting ceremony was held at the facility, and a parade of Smart Cars was rolled out for attending news media representatives.
“ZAP is thrilled to announce that with the receipt of an official letter of notification from the U.S. Department of Transportation, the Smart Car has now received all federal approvals necessary for sale in the United States,” said Mr. Schneider.
ZAP has received more than three-quarters of a billion dollars in orders from American dealer orders for the Smart Car high-efficiency automobile, already as successful product in several countries internationally. The letter from the U.S. Department of Transportation acknowledged a certificate of compliance that lifts a Performance Bond, allowing the import and certification of the Smart Car. ZAP recently announced that the Smart Car had received a Letter of Conformity from the U.S. Department of Transportation and Environmental Protection Agency, and the announcement today clears the car for sale in 45 U.S. states.
ZAP owns the technology developed by Smart-Automobile LLC to Americanize the popular European-made Smart Car, a high-efficiency gas vehicle, for the U.S. marketplace. ZAP Americanizes the Smart Car to meet U.S. federal and state safety and emissions standards. The U.S. Environmental Protection Agency and the Department of Transportation have approved a Smart Car model Americanized by ZAP for domestic use in 45 U.S. states. ZAP is not affiliated with, or authorized by, smart gmbh, the manufacturer of SMART automobiles, or the smartUSA division of Mercedes-Benz LLC, the exclusive authorized U.S. importer and distributor of those vehicles. The Smart Car is manufactured by global automotive company DaimlerChrysler. ZAP purchases its vehicles from non-affiliated direct importer Smart-Automobile LLC.
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