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OBVIO! Announces Export of Electric Cars to ZAP for North America - VIDEO ENHANCED STORY

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RIO DE JANEIRO, Brazil - July 20, 2006: Brazilian automotive company OBVIO! announced that it will introduce electric cars based on its 828 and 012 microsport car designs for export to North America.

CLICK HERE to watch an OBVIO! zip around a parking lot in Orlando.

OBVIO! has a strategic partnership with publicly-owned California automobile distributor ZAP, which has agreed to be the exclusive North American distributor and has pre-purchased 50,000 OBVIO ! units.

OBVIO! said that gas-ethanol engines would power the initial versions of its 828 and 012 microcar designs, planned for production in 2007. But the 828E and 012E equipped with advanced electric drive systems will not be far behind, says OBVIO! President Ricardo Machado, who announced he would export the electric cars to North America.

"It is clear to me that electricity has a big future in the auto industry," said Machado. "OBVIO!'s business model of 100 percent outsourced supplier relationships allows for the speed and flexibility to incorporate a new drive system powered by electricity by our second model year."

Machado says there are several suppliers that are negotiating to provide electric drive systems for the 828E and 012E. Targeting a price of $49,000 and $59,000 respectively, the cars will have plenty of power, capable of reaching a top speed exceeding 120 mph for a range of up to 200-240 miles per charge.

Acceleration for the OBVIO! electric cars is projected to be 0 to 60 mph in under 4.5 secs with 200 hp and a continuously variable transmission (CVT). A full recharge takes up to 5 hours for normal charging, or 2 hours with fast charging. The cars would be able to travel for 20 - 50 miles with just a 30 minute charge time.

OBVIO! calls its unique automotive designs microsport cars, small enough to park two to a normal parking space, or short enough that they are capable of backing into the width of a parallel parking spot. Bench seating allows room for three adult passengers. i-Mobile would supply an on-board multi-function computer, providing personal computing, GPS satellite navigation, satradio, Internet, e-mail and multimedia functions. Enhanced safety for the microsport cars uses an innovative elliptical rings structural design derived from aeronautical crash management technology.

About OBVIO!

OBVIO! Automotoveiculos S.A. is a new developer and manufacturer of high-safety and high-performance automobiles in Rio de Janeiro, Brasil. OBVIO! has assembled a network of strong suppliers to incorporate the latest advances in automotive engineering into a new generation of automobiles that meets the challenges of today's urban driving environment. OBVIO! is setting up a five million square foot manufacturing facility in Xerem at Duque de Caxias city, in Rio de Janeiro. Under the direction of OBVIO!'s chief design partner, Anisio Campos, the premier car designer in Brasil and a former racing driver, OBVIO ! cars incorporate many state-of-the-art composite technologies, materials and features for urban cars that are fun and efficient. For more information, visit