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ZIP ZAP
EV and ICE vehicles share the same past: they were both created at the end of the 19th century. ...
Gary Starr was proactive; he saw it coming and founded ZAP.
Throughout the history of ZAP, Starr wanted his company to expand fast in order to become a major player in the EV market.
ZAP kept on buying other companies that possessed key technologies and beneficiated from this by introducing new products:
Ø In Dec 1999, ZAP purchased emPower a developer of advanced e-scooters for 525,000 shares of common stock. ... in May 2000 for 120,000 shares of common stock enabled ZAP to manufacture sea scooters. ... in Oct 2000 enabled ZAP to own the proprietary VR24 drive system that gives a speed over 50mph.
ZAP formed a joint venture with Nongbo Topp Industrial Company Ltd in Aug 2000 to manufacture and distribute EV’s in China.
ZAP also signed an exclusive contract in Oct 2000 with Oxygen SpA of Italy to sell the Zappy folding e-scooter and other ZAP EV’s in Italy & 3 other European countries.
In Feb 2001, the agreement was expanded to allow ZAP to distribute the Lepton (scooter built by SpA) in North America.
In 2001, ZAP unveiled 5 new personal electric transportation products in the industry Super Show in Las Vegas.
With acquisitions and agreements, ZAP was able to offer a product line of over 10 different product categories: bicycles, power skies, patrol bikes, tricycles, sitdown scooters, motorbikes, pedicabs, underwater propulsion devices, neighborhood cars and Zap Power System.
14 patents associated with EV design implementation were the safety valve for ZAP against competition. ...
By the year 2000, ZAP had a good reputation and high sales in the EV business.
ZAP’s Income statement and Balance Sheet witness a five-year loss with an accumulated deficit (1995~2000) of $9,664. ...
What will be the future of ZAP?
Approximate Word count = 1561
Approximate Pages = 6.2
(250 words per page double spaced)
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