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Al Yousuf Group Provides $10M Financing Arrangement for ZAP
11 August 2008
The Al Yousuf Group, a Dubai-based conglomerate and investor in ZAP, provided a $10 million financing arrangement the electric vehicle manufacturer for future working capital enabling it to meet growing demand for its electric vehicles. The financing arrangement allows for advances by ZAP over the next few years.
ZAP’s dealers have increased from 20 last year to 50 currently. ZAP said that demand for dealerships is growing in the US and abroad and expects the Company to add a significant number of new dealers and distributors over the next 12 months.
This is the opportunity of a lifetime for ZAP and we are ready to seize the moment.
—ZAP Chairman Eqbal Al Yousuf, President of The Al Yousuf Group
The Al Yousuf Group is one of the largest distributors of automobiles in The Middle East.
August 11, 2008 in Brief | Permalink | Comments (2) | TrackBack (0)
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Posted by: Henry Gibson | August 11, 2008 at 03:44 PM
Wouldn't that mean they would have to use gas? Have you ever driven a Xebra? It wasn't designed for 1000 mile trips, it was designed for going across town and back. I have never run out of charge on the side of the road. That would be like running out of gas.
Posted by: Alex Campbell | August 12, 2008 at 10:16 AM
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ZAP and other electric vehicle manufacturers should immediately install tanks and small generators in their vehicles to make them plug-in-hybrids. The engine generators of a Honda 1000is can be ripped out of its case and equipped with electronic starting and later new valves to allow higher speed and power and then used to demonstrate a simple plug-in-hybrid that has a thousand mile range. Someone sold their similar electric because their bad batteries failed on short trips, but even an unmodified Honda 1000is could have got them home again. ..HG..