February 20, 2007 07:00 ET

ZAP (OTCBB: ZAAP) Electric Car and Truck Qualify for Rebates From Alameda Power

EV-Friendly City Alameda Plugs New ZAP Dealer O'Connell EV

ALAMEDA, CA -- (MARKET WIRE) -- February 20, 2007 -- A rebate program sponsored by Alameda Power & Telecom will pay for much of the electricity needed to recharge a new electric car and truck from ZAP (OTCBB: ZAAP), one of the highlights from the Feb. 10 grand opening for O'Connell EV in Alameda, California.

Alameda Power has a special rate for electric vehicle (EV) charging called the Supplemental Schedule EV-X, or Experimental Electric Vehicle Charging Discount rate plan. The program is designed to charge EVs during off-peak hours, between 8:00 p.m. and 8:00 a.m. weekdays and all day on weekends and holidays. The rate works out to be about six cents per kWh for a maximum of 250 kWh per month, about $15. See Alameda Power & Telecom's website for further information at

Excess electricity generated at night can power millions of electric cars, according to the Department of Energy. A recent study found that off-peak electricity could generate most of the electricity consumed by plug-in hybrid electric vehicles, meaning an estimated 84 percent of the country's 220 million vehicles could use off-peak electricity. Off-peak electricity is considered to be an untapped renewable resource. A 2002 EPRI Roadmap study estimates that the US would see a $88.9 billion annual economic benefit assuming 25 percent plug-in vehicles by 2025 (See October 25, 2004 ZAPwatch). Power companies are offering rebate programs to create incentives for the use of EVs and Bill Garvine of Alameda Power issued praise for the opening of the new dealership.

"The event was a great success," said Bill Garvine with Alameda Power. "We typically offer rebates of about $15 per month for plug-in vehicles, which means we can probably cover most of the cost of XEBRA driving in Alameda. We have some users already with vehicles like the old Corbin Sparrows, but we like ZAPs because they're plug-in and they're good for us."

ZAP dealer Mike O'Connell said that despite the pouring rain he had a lot of interest in the XEBRAs, with dozens showing up, more than 40 test-drives, and a score of customers ready to place orders. Alameda Mayor Beverly Johnson and Vice Mayor Lena Lam were among the local dignitaries that were in attendance. The ZAP dealership was created through a partnership between O'Connell and Steve Lowery, a local pulmonary physician, or lung doctor.

ZAP officials say that Alameda has developed a reputation as an EV-friendly city, noting that the Company formed in Alameda in 1994 around its electric bicycle developments.

About ZAP

ZAP has been a leader in advanced transportation technologies since 1994, delivering over 90,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, hydrogen, electric, fuel cell, ethanol, hybrid and other innovative power systems, ZAP is developing a high-performance crossover SUV electric car concept called ZAP-X engineered by Lotus Engineering. The Company recently launched a new portable energy technology that manages power for mobile electronics, like cell phones and laptops. For more product, dealer and investor information, visit

Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. 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