ZAP (ZAPZ) announced it has received a second 100-unit wholesale purchase order for the SMART Car, bringing the total in wholesale fleet orders in hand to $4.98 million. ZAP is in discussion with a number of government and corporate fleets as well as automotive wholesale dealers for purchase orders of 100 or more cars by December 31, 2004. ZAP unveiled the SMART Car to U.S. consumers in November at the San Francisco International Auto Show, announcing that the U.S. Environmental Protection Agency has issued a Letter of Conformity. This regulatory approval clears the way for ZAP to begin organizing U.S. marketing and distribution for the SMART Car. ZAP has an exclusive distribution contract with SMART-Automobile LLC for the rights to sell the cars in the United States with a near-term goal of 150 dealer outlets by second quarter of fiscal year 2005. [ more ]
