April 13, 2010 14:39 ET

ZAP CEO Steve Schneider Named Vice Chairman of Samyang Optics

SANTA ROSA, CA--(Marketwire - April 13, 2010) -  Steve Schneider, CEO for electric vehicle pioneer ZAP (OTCBB: ZAAP) has been named Vice Chairman of Samyang Optics Co., Ltd. (Kospi: 008080.KSE) to support their entry into the electric vehicle market.

The appointment of Steve Schneider to the post of Vice Chairman by Samyang Optics follows several joint business activities between ZAP and Samyang Optics to distribute electric vehicles in Korea. The two companies have formed a distribution partnership to sell and potentially manufacture ZAP vehicles in Korea. Samyang recently placed an order for 100 of the new electric SUVs  being developed by ZAP and Zhejiang Jonway Automobile Co. Ltd. of China. Recently, Samyang Optics sponsored the ZAP Alias and SUV in the first-ever Korea EV Challenge.

"Steve Schneider has extensive auto industry experience, particularly in electric vehicle integration," said Samyang Optics CEO, Christopher Kang, M.D. "This appointment as Vice Chairman signifies our commitment to the electric vehicle business venture with ZAP."

Since 1994, ZAP has delivered over 117,000 of a broad range of vehicles to more than 75 countries. ZAP supplies electric trucks and vans to military, government and corporate fleets and is an innovator of electric motorcycles, scooters and ATVs. For further information on ZAP, visit

Samyang Optics Co., Ltd.

Samyang, located in Masan, Korea, is a developer of optical lenses and a range of applications for closed circuit television systems used extensively in highly important security settings such as casinos and banks, as well as government and commercial buildings. Founded in 1972, Samyang's securities are publicly traded on the Korean stock exchange. Samyang is an exclusive supplier for "Made in Korea" lenses to Sears and has made lenses for Nikon, Canon, Minolta and Yashica. In 2004 Samyang merged with Japanese optical device maker Seikou.

Safe Harbor Statement

This press release contains forward-looking statements. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of ZAP's products, increased levels of competition, new products and technological changes, ZAP's dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the ZAP's periodic reports filed with the Securities and Exchange Commission. 

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