Zapworld.Com (ZAP, Sebastopol, CA) and Voltage Vehicles (Fulton, CA) announced that they have entered into an agreement to form a joint venture to develop, design, manufacture, and distribute a full line of new personal electric vehicles as well as ZAP's current line of electric vehicles (EVs). Voltage Vehicles has also entered into an agreement to be acquired by Advanced Wireless Systems Inc. (Scottsdale, AZ). That agreement is expected to be finalized within the next ten days.
"Our target market is the independent auto dealer," noted Steven M. Schneider, national distributor for Voltage Vehicles. "Our research indicates that there are auto dealers out there that are hungry for EVs that the large manufacturers are not supplying. With gas prices projected to hit all-time highs this year, we feel that now is the time to supply the financing and vehicles that can provide consumers a true alternative." He added, "We recently attended the National Independent Auto Dealer Show, and we were literally mobbed by dealer requests."