Archive - Aug 2009
Priscilla M. Lu, Ph.D. to Chair Electric Vehicle Pioneer ZAP Board
SANTA ROSA, California (August 21, 2009) – The board of directors of electric vehicle pioneer ZAP (OTC BB: ZAAP) unanimously elected Priscilla M. Lu, Ph.D. as Chair of its Board of Directors.
Dr. Lu is a 30-year telecommunications and networking executive and entrepreneur formerly with AT&T Bell Laboratories as well as Founder, Chairman and CEO of interWAVE Communications Ltd., and ViDeOnline Communications Ltd.
ZAP and ETI Tech of Malaysia Sign Binding MOU for Electric Vehicle Joint Venture
SANTA ROSA, California and KULIM, Malaysia (August 19, 2009) – U.S. electric vehicle pioneer ZAP (OTC BB: ZAAP) and Malaysia’s home grown green technology company, ETI Tech Corporation Berhad (listed on ACE Market of Bursa Malaysia: 0118.KL; ETITECH), jointly announced today their intention to form a manufacturing and distribution joint venture.
ZAP and ETI Tech have signed a binding Memorandum of Understanding (MOU) for the supply of ETI Tech batteries and battery management systems (BMS) for ZAP personal transportation electric vehicles. The two companies have also agreed to joint manufacturing and distribution and expect to execute a definitive agreement within ninety days from the date of signing the MOU.
ZAP Names Priscilla M. Lu, PhD to Its Board of Directors
SANTA ROSA, California (August 12, 2009) – Electric vehicle market pioneer ZAP (OTC BB: ZAAP) has voted to add Priscilla M. Lu, Ph.D. to its Board of Directors.
Dr. Lu is a 30-year telecommunications and networking executive and entrepreneur formerly with AT&T Bell Laboratories, Founder, Chairman and CEO of interWAVE Communications Ltd., and ViDeOnline Communications Ltd.
FAA Orders Fleet of Electric Trucks from ZAP
SANTA ROSA, California, August 13, 2009 – Electric vehicle pioneer ZAP (OTC BB: ZAAP) announced today the company has been awarded a contract to supply the Federal Aviation Administration (FAA) with a fleet of its popular Zaptruck XL, a versatile 100% plug-in electric truck. 
The FAA will take deliveries of the vehicles in September at a major metro center in the Midwest.
ZAP Secures up to $25 Million in New Financing.
SANTA ROSA, California (August 10, 2009) – Electric vehicle pioneer ZAP (OTC BB: ZAAP) announced today that it has secured up to $25 million in new financing with Cathaya Capital, L.P. With offices in Silicon Valley, Cathaya, L.P. is backed by financier Jacques de Chateauvieux’s Paris-based Jaccar Holdings and intends to manage the investment through its affiliate Better World International, Ltd.
ZAP will use a portion of the funding to pursue longer-term contract production and assembly commitments, and to accelerate deliveries of trucks and vans to fill current fleet and government orders.