ZAP (OTCBB: ZAAP) recently announced that it has acquired partial ownership in an electric motor company that will be developing and manufacturing new wheel motors. Zap will be working together with this new electric motor company in the development of a wide range of electric vehicles. The company is planning on marketing these vehicles for worldwide distribution.
“So many have focused on batteries as a way to improve the performance of electric vehicles, but wheel motors are truly a giant leap forward,” said Gary Starr, who manages product development for ZAP. “Today’s ZAP wheel motor vehicles can nearly double the range of similar vehicles we brought to market ten years ago.”
Since 1994, Zap has been working diligently in the field of transportation technologies, producing more than 100,000 fuel-efficient vehicles worldwide. The company has been developing and manufacturing energy-efficient gas systems, and electric and hybrid vehicles. Zap is currently in partnership with Dubai-based Al Yousuf Group and Detroit Electric. Recently Zap has been receiving attention at Pinnacle Digest, a financial magazine and social network which has over 15,000 members.
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