ZAP (OTC BB:ZAAP.OB) has entered into a long-term relationship with the Dubai-based manufacturing and distribution company, Al Yousuf Group.
The Al Yousuf Group, which is one of Dubai’s leading distributors of automobiles, off-road vehicles and boats, has invested US US$5 million in ZAP shares.
The Al Yousuf Group has developed partnerships with many of the world’s renowned brand names in Asia, Europe and the USA. A number of these ventures have grown into long-term business relationships. Al Yousuf Motors’ portfolio includes General Motors and Daihatsu vehicles, Daewoo buses, Suzuki motorcycles and outboard engines, Yamaha motorcycles, outboard and marine engines, water vehicles, generators, boats etc.
“We believe there is a big demand for clean transportation in The Middle East and we see ZAP in a position to deliver on that demand,” said Hossein Asrar Haghighi, Chief Finance Officer of Al Yousuf Group. “We are long-term investors in this endeavor and will focus our efforts with ZAP on this important work to contribute to a green community worldwide through different units of our Group.”
“Forming a relationship with Mr. Al Yousuf over the past several months has opened new horizons for ZAP and its business plans,” said ZAP CEO Steve Schneider. “Al Yousuf has been one of Dubai’s leading business innovators for more than half century. I believe this is the right relationship for ZAP to expand on its global marketing strategy.”
ZAP has been a pioneer in electric transportation since 1994, delivering more than 100,000 electric cars, trucks, scooters, bicycles and other vehicles to consumers in 75 different countries. Over the past few years ZAP has accelerated its plans to market electric cars and trucks using the latest in advanced technologies. ZAP is manufacturing a full-line of electric vehicles and has plans to develop full-performance models using the latest advances in automotive technologies.
About the Al Yousuf Group
With more than 50 years in business, Al Yousuf Group has diversified into a multitude of industries under various subsidiaries, with dealings in Automotive, Information Technology and Telecommunications, Consumer Electronics, Boat Manufacturing, Air Conditioning, Imperbit Membrane manufacturing, Real Estate, Transportation and more.
About ZAP
ZAP has been involved in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, hydrogen, electric, fuel cell, ethanol, hybrid and other innovative power systems, ZAP is developing a high-performance crossover SUV electric car concept called ZAP-X engineered by Lotus Engineering. ZAP is also developing a new generation of vehicles using advanced nanotech batteries with Advanced Battery Technologies. The Company recently launched a new portable energy technology that manages power for mobile electronics from cell phones to laptops.
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