Electric Bikes and Scooters ZAP Las Vegas
9 September 1998
Electric Bikes and Scooters ZAP Las VegasLAS VEGAS--Sept. 9, 1998--Volts, not bolts, are the latest buzz in the bike industry this week as dealers from around the country flock to Las Vegas to attend Interbike, the industry's largest trade show, and to learn more about electric bikes.
ZAP Power Systems (OTC BB: ZAPP), a Sebastopol, California-based electric vehicle manufacturer, believes electric bikes are now entering the market because they are practical, fun and affordable. The company, which formed in 1994, announced last week the shipment of its 15,000th unit and reported record sales for the month of July. The company's domestic distribution includes electric vehicle franchises and over 100 bike shops. The company has exported product to over 45 different countries and even has over 120 law enforcement agencies using its ZAP PATROL(TM) model.
Despite the success of its electric bicycles, ZAP introduced a product this year that may even be more popular. The $649 ZAPPY(TM) folding electric scooter is ridden standing up and starts with the kick of your foot. It also folds and unfolds faster than an umbrella for easy storage or carrying. ZAP general manager Andrew Hutchins says the response for the ZAPPY has been remarkable. The company has already shipped over 1,000 since it was introduced earlier this year. It was recently featured in The Wall Street Journal, Outside Magazine, on The Today Show, and was named by The Gadget Guru as one of the best new products of 1998.
ZAP's most popular electric bicycle is the $699 ElectriCruizer. It uses a rugged classic cruiser styling that comes in red, blue and black. With comfort features like the a six-speed derailleur, wide cushion seat, upright handlebars, and options like fenders and baskets, the bike has all the amenities for daily commuting or recreation. The power-assist helps you up to 14 MPH and includes a battery and charger that work in any household outlet.
For further information about ZAP's electric bikes and scooters, contact their Web site, http://www.zapbikes.com, or call toll-free at 800-251-4555.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.