Advanced Wireless Completes Acquisition of Voltage
Vehicles
SCOTTSDALE, Ariz., June 1 Advanced Wireless Systems, Inc.
(OTC Bulletin Board: AWSSE) announced today that it has completed the
acquisition of Voltage Vehicles of Fulton, California.
Voltage Vehicles is a full service automotive distribution company with
contracts and agreements with most of the major manufacturers of premium Zero
Emission Vehicle ("ZEV") products that are available for sale today. Voltage
Vehicles intends to market and distribute these products through the
independent automotive dealer network.
In May, Voltage Vehicles entered into an agreement with electric vehicle
maker ZAPWORLD.COM to form a joint venture to develop, design,
manufacture and distribute a full line of new personal electric vehicles as
well as ZAP's current line of electric vehicles. Under terms of the joint
venture, Voltage Vehicles has agreed to provide up to $10 million in financing
for the venture, while ZAP has agreed to provide all engineering, design and
development work on the new product lines. Voltage Vehicles will retain
exclusive marketing rights to the automotive dealer network for all new
products developed.
ZAP is the leading worldwide manufacturer and distributor of personal
electric vehicles, including electric bicycles, motor scooters, water scooters
and motorcycles.
In making the announcement, Stan Wilson, President of AWSS said, "We feel
the time is ripe to develop a full line of meaningful ZEV's for the
marketplace and we believe that this alliance with ZAP, the premier
international manufacturer and distributor of personal electric vehicles,
bodes well for our entry into the zero emission vehicle market."
Nancy Hayysen, President of Voltage Vehicles, stated: "We believe that
with the current energy crisis and environmental concerns surrounding the
solution to that energy crisis, a tremendous business opportunity exists for
zero emission vehicles to become a viable alternative to fossil fuel
vehicles."