July 17, 2008 14:03 ET

Key Execs From Al Yousuf Group Visiting ZAP

SANTA ROSA, CA--(Marketwire - July 17, 2008) - Dubai's Al Yousuf Group has sent two key executives to electric vehicle pioneer ZAP (OTCBB: ZAAP) this summer to explore synergies across their portfolio of transportation companies in which the Al Yousuf Group has invested.

Mr. Ashraf Saeed, the Chief Operating Officer for the Al Yousuf Group, is spending approximately a month at ZAP to explore more ways that Al Yousuf can support ZAP's ambitions in alternative transportation. Mr. Saeed has been cultivating the relationship with ZAP since contact was first made with the Al Yousuf Group.

"ZAP is leading the way by delivering electric vehicles today to meet increased demand and we are excited to bring the experience of our other technology investments into ZAP," said Mr. Saeed.

Mr. Ibrahim Abdue Redha Al Asmawi, the Business Development officer for the Al Yousuf Group, will also be visiting ZAP.

The Al Yousuf Group has taken an investment interest in ZAP's products for distribution in The Middle East and in helping the development the Company. Mr. Eqbal Al Yousuf was recently appointed Chairman of ZAP's Board of Directors and attended his first board meeting as Chairman in June at ZAP's Santa Rosa headquarters. He also purchased a 50 percent stake in ZAP's Recharge-It-All battery line.

The Al Yousuf Group has invested in other environmentally oriented companies, including companies developing electric transportation technologies. In November, Al Yousuf invested in battery developer Altair Nano. In December, Al Yousuf invested in electric truck developer Phoenix Motorcars.

The Al Yousuf Group is one of the largest trading groups in The Middle East. Over the past 55 years, the Al Yousuf Group has grown into a leading business conglomerate in the Gulf Region with operations ranging from Motor Vehicles, Boat Manufacturing, Auto Rental, Real Estate Development, Home Electrical Appliances, Computer Operating Systems, Electronics, Transportation and more.

About ZAP

ZAP has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, electric, hybrid and other innovative power systems, ZAP has a joint venture called Detroit Electric to manufacture electric and hybrid vehicles with Youngman Automotive Group. Detroit Electric is developing a freeway capable electric vehicle called the ZAP Alias. ZAP is also developing a new generation of vehicles using lithium batteries. The Company recently announced a strategic partnership with Dubai-based Al Yousuf Group to expand its international vehicle distribution. ZAP also makes an innovative, new portable energy technology that manages power for mobile electronics from cell phones to laptops. For product, dealer and investor information, visit

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 the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.

Contact Information