Zap and the Electric Vehicle Industry
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I. In 1994 James McGreen and Gary Starr founded ZAP Power Systems in Sebastopol California. ZAP, short for Zero Air Pollution designs manufactures and markets electric bicycles, scooters, and other short distance electric vehicles. The company became an instant hit when Kevin Spacey an Oscar award winning actor came on the Letterman Show in 2000 riding on an electric scooter. Shortly after, ZAP electric scooters and powered bicycles were in great demand.
In 1996 ZAP began selling its electrically powered bikes by means of auto dealerships and catalogs. Soon after, ZAP became the first company in hitory to sell its stock directly to the public via the internet. Between 1997 and 2000 ZAP was involved in an assortment of contract negotiations and deals that would ultimately help aid their products' exposure throughout the United States, China, and Europe.
The road ahead seemed promising for ZAP, sales of EVs were expected to grow throughout a wide range of demographics. Aging baby boomers were able to go outside once again and function as they once did...