SOURCE: ZAP

August 12, 2009 11:30 ET

ZAP Names Priscilla M. Lu, PhD to Its Board of Directors

SANTA ROSA, CA--(Marketwire - August 12, 2009) - Electric vehicle market pioneer ZAP (OTCBB: ZAAP) has voted to add Priscilla M. Lu, Ph.D. to its Board of Directors.

Dr. Lu is a 30-year telecommunications and networking executive and entrepreneur formerly with AT&T Bell Laboratories, Founder, Chairman and CEO of interWAVE Communications Ltd., and ViDeOnline Communications Ltd.

ZAP CEO Steve Schneider said, "Dr. Lu's technical and extensive international business experience will be invaluable as the company expands its global presence. She is a founding member of the Cleantech Group in China and sits on several Boards, including Intel's Consumer Board of Advisors and Northwestern University's Engineering School's McCormick Advisory Board." He added, "Priscilla adds a critical advisory resource to our management team."

Dr. Lu is currently the Managing Partner and Founder of Cathaya Funds, a private equity fund focusing on international business alliances in China such as the Hong Kong-based Better World International, Ltd. ZAP recently announced Better World International's $25 million financing arrangement with the company to help accelerate a three-part growth strategy on battery systems, wheel motor technologies and affordable electric vehicle design and production.

Through her involvement with Cathaya Funds, Dr. Lu also is a principal in the foundation of China Broadband Inc., a company heavily invested in interactive broadband, wireless and cable media programming in China. For the five years prior, Dr. Lu was China Advisor to Mayfield Fund, a forty-year old venture capital firm with over $2.8 billion under management. Dr. Lu helped found GSR Fund for Mayfield, a venture capital fund in China overseeing more that $700 million in investments.

She holds a Ph.D. in Electrical Engineering and Computer Science from Northwestern University and B.S. and M.S. degrees in Computer Science and Mathematics (Honors) from the University of Wisconsin and has over 50 patents in the area of telecommunications and networking.

For more news and information on ZAP, visit www.IRGnews.com/coi/ZAAP where you can find the CEO's video, a fact sheet on the company, investor presentation, and more.

About ZAP

ZAP has been a leader in electric transportation since 1994, delivering over one hundred thousand vehicles to consumers in more than seventy-five countries. ZAP manufactures a line of electric vehicles, including electric city-cars and trucks, motorcycles, scooters, and ATVs. ZAP sells some of the only electric city-speed cars, trucks and vans in production today and is developing a freeway capable electric vehicle called the ZAP Alias. For product, dealer and investor information, visit http://www.zapworld.com.

About Better World International, Ltd.

Better World International Ltd., a BVI company with headquarters in Hong Kong, is focused on investing in developing electric car technologies and service businesses. It is working on joint partnerships in China that can build out the electric power infrastructure grid networks for electric cars, and on opportunities with companies that provide the core technologies to enhance electric power train conversion as well as improving fast charge pumps for recharge stations.

Forward-Looking 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 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

  • Contact:
    Investor Relations Group
    212-825-3210

    Investor Relations
    Rachel Olson or Michael Crawford

    Media Relations
    Laura Colontrelle