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ZAP Has Record Third Quarter Electric Vehicle Shipments


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SANTA ROSA, Calif., Oct. 8, 2008 - Electric transportation pioneer ZAP (OTC:ZAAP)BULLETIN BOARD: ZAAP) announces that unprecedented demand for alternative transportation has resulted in record electric vehicles shipped (unaudited) in the quarter ended September 30, 2008 for the Advanced Technology Vehicle segment. This was the best sales quarter since ZAP launched its Xebra sedan and pickup truck vehicle line in 2006.

In the quarter ended September 30, 2008, we shipped 240 Xebra vehicles as compared to 80 in the quarter ended September 30, 2007, or an increase of 160 vehicles and 200%. For the quarter ended June 30, 2008 the number of vehicles shipped was 130 as compared to 80 in the quarter ended June 30, 2007, an increase of 50 vehicles or 62%.

Within the Advanced Technology Vehicles segment, vehicle shipments of Xebras hit an all-time record in the month of September at 121 units.

ZAP CEO Steve Schneider commented that the drivers behind this dramatic growth include an increase in overseas manufacturing capabilities, continued expansion of qualified dealers, and the recent $10 million working capital credit line that accelerated production and assembly operations.

As a result of an increase in demand for electric cars and other forms of plug-in transportation, ZAP has increased its workforce by almost 30 percent since the beginning of the year, largely in its U.S. production and assembly facilities.

"While most U.S. automakers are laying off workers and facing declining sales, ZAP is experiencing record growth," said CEO Steve Schneider said last month. "We are proud that ZAP is one of the few companies filling the need for an affordable electric car." He added that ZAP is launching new electric vehicles in the fourth quarter.

The ZAP Xebra is rapidly expanding the niche for electric vehicle driving. Rather than designing their popular city-car simply to replace a gasoline vehicle, ZAP's approach to the Xebra was to make an affordable, 100 percent electric vehicle for on-road use today. MSRP is $11,700 for the sedan and $12,500 on the truck. ZAP designed the Xebra primarily for in-town personal, family, businesses and fleet operation. Xebras can travel up to 40 MPH.

Satisfied owners have praised the Xebra. "The best purchase I have ever made," writes Barbara Brown of Oregon. "I love it," said Susan Jones of California. "I could sell one everyday," writes Ron Harris of Colorado about all the positive reactions he gets driving around town. More customer reviews are available at: ZAP.