ZAP (ZAAP.OB) Expands Fleet Shipments

Steven Schneider, chief executive officer of ZAP, stated, “We have a rapidly growing number of these vehicles in our production queue as a result of stepped up demand and purchasing activity. Both corporate and government fleet buyers have been given mandates to implement change and, fortunately, we have been the beneficiary of that new direction.” He continued, “The XL truck is attractive because it’s priced right, it has a variety of battery power levels and our new Payload shells can be equipped with full-length lift up doors with tinted windows, discrete tool bins, space-saving roll-up doors and a top-mounted utility rack.”

Due to increasing demand, ZAP plans to expand its domestic manufacturing capability through Zap Motors Manufacturing in Kentucky. Zap Motors Manufacturing has applied for a $200 million Advanced Technology Vehicles Manufacturing loan with the U.S. Department of Energy (DOE). The DOE will be allocating $25 billion in loans to qualified carmakers and suppliers who can build advanced technology vehicles here in the United States.