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ZAP Acquires Exclusive US Distribution for Portable Batteries From ABAT
19 October 2007
ZAP has acquired the exclusive American distribution license from CCT Power Company of Temple City, California to market batteries from Advanced Battery Technologies, Inc. (ABAT) for its Portable Energy lines.
ZAP made the announcement following meetings yesterday in Beverly Hills with Sharon Tang, CFO for Advanced Battery Technologies, and John Honey, President and CEO of CCT Power. The meetings were part of ZAP’s new US-China joint venture with Youngman Automotive Group. (Earlier post.)
ZAP’s Portable Energy Business is the by-product of several years’ research into more advanced batteries for electric vehicles.
ZAP is also working with Advanced Battery Technologies on electric vehicle development. In July, ZAP agreed to purchase $5.168 Million in polymer lithium-ion batteries from Advanced Battery Technologies for use in ZAP’s line of XEBRA electric cars and trucks as well as other vehicles and battery systems. (Earlier post.)
ZAP has been testing lithium-ion batteries in its current vehicles and earlier this year reported that a production XEBRA electric truck traveled over 100 miles on a single charge at a Danish testing facility using an advanced battery management system combined with lithium-ion batteries. (Earlier post.)
Founded in September 2002, Advanced Battery Technologies (ABAT) develops, manufactures, and distributes polymer lithium-ion batteries using lithium cobalt oxide material in the anodes.
October 19, 2007 in Brief | Permalink | Comments (5) | TrackBack (0)
Comments
Posted by: AES | October 19, 2007 at 02:20 PM
Yeah isn't ZAP 70 million something in the hole? I wonder how their sales figures are, so far my impression that only probably a couple hundred gets sold every year, barely enough to pay what they owe.
Posted by: philmcneal | October 19, 2007 at 02:31 PM
ZAP perplexes me. They put out a bajillion news releases, but do they actually ever sell anything?
Posted by: jack | October 19, 2007 at 04:04 PM
They sell Chinese-manufactured three wheel NEVs that are absolute death traps - although in what quantities, I don't know.
Posted by: AES | October 19, 2007 at 11:49 PM
Marginal quality electric golf carts make good runabouts for those quick trips to the corner store, don't they? A good quality helmet and some extra padding would offset the "deathtrap" downside.
Posted by: sulleny | October 21, 2007 at 04:43 PM
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"polymer lithium-ion batteries using lithium cobalt oxide material in the anodes."
That's an unusual place for those materials - sure it's not supposed to be in the cathode?
As far as "Zap!" goes, I'm not sure where they're getting the money for all this. They've been spiraling the drain for years.