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ZAP Invests in Advanced Battery Manufacturing Company in China

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SANTA ROSA, US (October 12) – Automotive technology pioneer ZAP announced that it has taken an equity position in Zibo Enterprises Co. Ltd., a manufacturer of advanced battery technology in The People’s Republic of China. Steve Schneider, Chief Executive Officer for ZAP, says that the announcement is the next step in the Company’s business plans […]

SANTA ROSA, US (October 12) – Automotive technology pioneer ZAP announced that it has taken an equity position in Zibo Enterprises Co. Ltd., a manufacturer of advanced battery technology in The People’s Republic of China.

Steve Schneider, Chief Executive Officer for ZAP, says that the announcement is the next step in the Company’s business plans to establish a ZAP Energy Division. Schneider says the synergy between advanced automotive and energy technology has prompted ZAP to expand and departmentalize to focus on these respective markets.

“When the opportunity arose to invest in Chinese manufacturing and technology development, we seized it,” said Schneider. “We are excited about the growth potential of China as a manufacturing partner for ZAP as well as one of the world’s fastest-growing consumer markets. This process of research and development in creating larger format batteries for automotive applications has literally spawned new ideas, new technologies and indeed new products.”

In September, ZAP unveiled ZAP Portable Energy(TM) a lithium-ion battery system designed to extend the running time for various low-powered electronic devices like cell phones, digital cameras and handheld computers — beyond traditional disposable and rechargeable batteries. ZAP unveiled the new portable energy device in September to establish distribution throughout North America. ZAP and Zibo are currently in discussion on future products. Schneider says that mobile electronics are pushing the technology envelope for innovations in advanced batteries and that the technology available in larger formats can power electric cars on a level comparable to today’s internal combustion automobiles.
ZAP has delivered more than 65.000 electrically powered vehicles over the years, ranging from bicycles to aqua-scooters.

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