from zapworld:
"ZAP has relationships with dealers throughout the United States for distributing vehicles when they become available. These relationships are paramount for reaching consumers on a grand scale. Additionally, they enable ZAP to simultaneously strengthen ties with local communities while focusing on ZAP's key expertise - conversion technology to meet government safety and emissions standards. While several manufacturers of vehicles have contacted ZAP about possible distribution of more automobiles, thousands of dealers have contacted us worldwide to share in the opportunity.
In the near-term, ZAP will be selecting a limited number of dealerships who share our long-term business philosophy as we manage the growth of this distribution network. ZAP's experience with the Smart ForTwo Coupe and the demand we have uncovered have affirmed our business plan of targeting what we believe to be a substantially growing niche market for smaller, more fuel-efficient automobiles, largely ignored by the U.S. industry in general. We believe we had the right idea, but the lack of control by not having a direct relationship with the manufacturer has caused confusion and delays for the past year. We intend to deliver more Smart Cars, but it is now of secondary importance to us as we develop the new vehicles mentioned below.
We intend to alert the public on any new developments regarding availability and we appreciate your patience. To fill the demand for smaller, more fuel-efficient cars, we are excited about the addition of the XEBRA and OBVIO ! vehicles into our automotive business plans. We expect the XEBRA electric car from China to be available soon and are now organizing test-drive events for the public and fleet buyers with authorized dealerships. With all the fundamental comforts of a car, the XEBRA is a design we call a 'City Car,' seeking to expand the electric vehicle niche to 40 MPH city-limit, non-freeway driving, useful for many municipalities, urban drivers, and in-town commuters. At $8,995 and approximately a third of the fueling costs of gasoline, the value proposition of the 100 percent plug-in XEBRA has sparked interest from all over the world.
Meanwhile, work continues in our new venture to introduce the OBVIO ! trybrid from Brazil, with its sporty styling and innovative, fuel-efficient design. OBVIO ! is discussing the possibility of building on the success of hybrids to create a 'trybrid' drive train that uses a flexible-fueled internal combustion engine capable of burning gasoline or ethanol or any mixture thereof, a technology common in Brazil where gasoline markets are volatile. The venture to export cars to North America has been met with strong support from the Brazilian government for its potential in creating economic development and jobs in the State of Rio de Janiero. Meanwhile, the OBVIO ! designs by racing legend Anisio Campos have received rave reviews by the international media. ZAP plans to introduce this concept to North American auto dealers at their largest industry event in mid-February.
ZAP has obtained a $425 million line of credit to enhance the Auto Portal division. ZAP intends to access this line of credit specifically for purchasing vehicles. The credit line is significant in that it allows ZAP to move forward with importing cars, converting them, and distributing them to dealers. Additionally, OBVIO ! has access to an additional $200 million for manufacturing and exporting its automobiles"
