According to a recent press release, Electric car producer ZAP (OTC BB: ZAAP) is developing a new electric vehicle that is more affordable for consumers. With a targeted price of $30,000, ZAP says the technology for the new vehicle is similar to that of an electric SUV concept announced earlier this year called ZAP-X (earlier post), but will be available sooner.
ZAP says that the initial concept phase for the new vehicle is complete. The targeted price is $30,000, top speed in excess of 100 mph and range of 100 miles per charge. Many of the technologies already specified for the ZAP-X electric car concept will be applied to the new vehicle, but delivery is expected to be sooner than the ZAP-X. CEO Steve Schneider said more details of the new vehicle will be presented at the annual shareholder meeting, July 29 in Santa Rosa, California.
This certainly makes more sense than the ZAP-X and it will appeal to a much larger set of customers.