MONTREAL, Oct. 18, 2000 (PRIMEZONE) -- Electric scooters, bicycles, motorcycles and other low-speed electric vehicles will sell into the "millions" of units by 2005, according to ZAPWORLD.COM (Nasdaq:ZAPP) CEO Gary Starr.
Speaking today before the 17th International Electric Vehicle Symposium in Montreal, Quebec, Starr said that the market for light electric transportation vehicles is skyrocketing worldwide. Starr believes that global environmental pressures, higher oil prices, population pressures, and urban traffic congestion are creating a strong demand for short-range transportation solutions.
"By adding lightweight electric power trains to traditional bicycles, scooters and other lightweight human powered vehicles, we're creating a means of transportation that is more practical and economical than automobiles for short-range urban transportation and for mitigating air pollution," said Starr. "Light electric vehicles (EVs) can even be faster considering traffic and parking congestion. At the same time they can make these traditional forms of transportation faster and more convenient."
During his speech, Starr, a 25 year veteran in the electric vehicle market, cited a recently released study from the National Renewable Energy Laboratory which stated that 45 million automobiles in the United States drive less than 20 miles per day, within the range for many of today's light EVs. Starr added that ZAP took in over $300,000 in new orders during the Electric Vehicle Symposium.
"Light EVs don't require the development of sophisticated hybrid or fuel cell technologies to bring them to market. With nearly 20 different models of electric vehicles now available, ZAP is already delivering thousands of EVs to consumers. This industry has already surpassed the market for all other electric transportation devices and by 2005 the market will exceed $5 billion annually with millions of units sold worldwide," said Starr.
The Electric Vehicle Symposium (EVS) is the world's premier forum for industry leaders, technology developers and end-users to view and test-ride some of the latest electric transportation available. During EVS-17, ZAP displayed a new full-size electric scooter by Oxygen S.p.A. equipped with an advanced Nickel-Zinc battery developed by Evercel, Inc. (Nasdaq:EVRC).
ZAP is a publicly owned company with shares trading on the Nasdaq Small Cap market under the symbol ZAPP. ZAP builds and distributes electric scooters, bicycles, pedicabs, motorcycles, sea scooters, go-karts, and other unique electric vehicles. To see or purchase a ZAP, visit http://www.zapworld.com or call 1-800-251-4555.
Editor's Note: Photos of Gary Starr are available online at http://www.zapworld.com/gallery