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ZAP Smart Car Receives Final Regulatory Approval

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 […]

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CLEAR Act: $2B in Hybrid, Alternative Fuel Incentives:

Senate Finance Committee Chairman Charles Grassley (R-IA) is expressing early support for a $2.5-billion bill providing tax incentives for alternative fuel and advanced technology vehicles, including hybrids, which has been part of the energy bill in the past two Congresses. But the provision is expected to encounter strong opposition this session from the House Ways and Means Committee and those in Congress concerned about budget deficits. Grassley told Inside Washington Publishers yesterday that his interest in the CLEAR Act (Clean Efficient Automobiles Resulting from Advanced Car Technologies) is intact, noting Sen. Orrin Hatch’s (R-UT) fervent support for the measure and saying, “It is something I want to do.” The bill will likely be introduced in the Senate in the next few weeks in its original form, congressional sources add, now that the pace is quickening on energy legislation in both chambers. Energy tax legislation unveiled by the House Ways and Means Committee earlier this week contains an incentive measure for fuel-saving vehicles that bears little resemblance to the CLEAR Act. One of the most controversial aspects of the CLEAR Act has been the question of whether or not diesel technology should be subsidized. The House energy tax package would only […]

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