China Car Manufacturer Receives Order for 500 Electric Vehicles from Listed Company ZAP (NYSE Arca:ZP).
Called XEBRAs, they are the first production electric vehicles made in China designed for US roads. Over 100 units have already been delivered to ZAP in California and Shandong Jindalu says it has the capacity to produce 1000 units per month.
The new XEBRA has been co-developed and co-designed through a strategic partnership with ZAP, a publicly owned company based in Santa Rosa, California. ZAP has an exclusive 10-year distribution contract with Shandong Jindalu to market the XEBRAs through its ZAP brand network of authorized sales and service centers.
The second micro-car ZAP is distributing in the US, the tiny XEBRA can park two to a normal parking space. It is a true Zero Emission Vehicle (ZEV) and ZAP is marketing them as an alternative for families with two or more cars as well as to government and corporate fleets. The car has been designed to plug in at any normal 110-volt outlet.
Under the strategic business relationship, ZAP has permanent offices at the factory in Dezhou to continue research and development of new vehicle models and concepts, and to assist in the manufacturing process.
Forward Looking Statements
Statements in this press release that relate to future plans or projected results of ZAP are 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended by the Private Securities Litigation Reform Act of 1995 (the "PSLRA"), and Section 21E of the Securities Exchange Act of 1934, as amended by the PSLRA, and all such statements fall under the 'safe harbor' provisions of the PSLRA. ZAP's actual results may vary materially from those described in any 'forward-looking statement' due to, among other possible reasons, the continued acceptance of ZAP's products, increased levels of competition, new products and technological changes, ZAP's dependence on third-party suppliers, intellectual property rights, and the realization of any of the other risks described in ZAP's Annual Report on Form 10-KSB, or in any of ZAP's other filings with the Securities and Exchange Commission. Readers of this press release are cautioned not to put undue reliance on forward looking statements.