ZAP offers rebate for its electric car in bid to cash in on the soaring oil prices
BY OUR AUTOMOBILES CORRESPONDENT
Aug. 13, 2005: In the backdrop of the soaring oil prices, Zero Air Pollution ( ZAP) has announced rebates on its electric cars and other electric vehicles. It may be recalled that a Department of Energy's Energy Information Administration report had said it expects oil demand to grow by 1.7 million barrels per day this year, to touch 84.2 million barrels per day.
Oil prices are also likely to rise through out the year, the report said. On Wednesday, after the release of the report, oil prices soared to $65 per barrel on the New York Mercantile Exchange.
ZAP’s thinking is to cash in on this non-abating oil price rise as consumers opt to do away with oil as fuel for their vehicles to cut costs. Electricity powered vehicles can cost much less than even gasoline.
ZAP is offering $500 in instant cash rebates on its electric cars as well as $50 off any electric bicycle this month, a release said. ZAP has over 50 electric and neighborhood electric cars as well as a variety of other electric vehicles, including electric bicycles and scooters. ZAP, has delivered over 90,000 vehicles to consumers in more than 75 countries since 1994.
ZAP was founded in an era when debate raged on finding a solution to our increasing transportation problems. ZAP pioneered innovative products like its zero-emission ZAP® electric bicycles and ZAPPY® folding electric scooters that were cost-effective and practical.
ZAP is carrying on with its aggressive campaign favouring fuel-efficient transportation with new technologies, including fossil-fueled drive trains, hydrogen, electric and other power systems. ZAP has also interests in advanced energy solutions and utilization of advanced batteries.
BY OUR AUTOMOBILES CORRESPONDENT
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