Nov 14 2007 |
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Dubai group purchases $5 million shares of ZAP
DUBAI-- Al Yousuf Group and electric car pioneer ZAP announced yesterday that the Dubai-based manufacturing and distribution company has invested $5 million in ZAP shares.ZAP has been a pioneer in electric transportation since 1994, delivering more than 100,000 electric cars, trucks, scooters, bicycles and other vehicles to consumers in 75 different countries. Over the past few years ZAP has accelerated its plans to market electric cars and trucks using the latest in advanced technologies. ZAP is manufacturing a full-line of electric vehicles and has plans to develop full-performance models using the latest advances in automotive technologies.
"I really like ZAP's approach to the electric vehicle market," said Eqbal Al Yousuf, President of Al Yousuf Group . "I am impressed with the technology ZAP is developing -- like wheel motors -- as well as its management team and we look forward to building a broader business relationship with them."
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