Albert Lam Joins ZAP Management Team
Santa Rosa, California, United States November 2, 2007
Former
Lotus Engineering CEO Leads Technical and Engineering Discussions
for New Electric Car Joint Venture
Albert Lam, former CEO of Lotus Engineering, has been selected by
electric car pioneer ZAP (OTC BB:ZAAP.OB) to take the lead on engineering
projects for its new joint venture with China Youngman Automotive
Group.
During his visit to California, Mr. Lam met with officials from
Advanced Battery Technologies (AMEX:GBT - News). Advanced Battery
Technologies is scheduled to ring the opening bell today as part
of their new listing on the American Stock Exchange.
Veteran automotive and technology executive Albert Lam has joined
the management team at electric car pioneer ZAP as part of a new
manufacturing joint venture in China.
A British National with offices in the UK and China, Mr. Lam spent
the past two weeks in California holdings meetings with ZAP and
its key technology partners to develop plans for a joint venture
with one of China's leading vehicle manufacturers, Youngman Automotive
Group. Mr. Lam has been named Chairman of the new Joint Venture
Company being established between ZAP and Youngman. ZAP has also
named Mr. Lam to its Board of Directors.
Mr. Lam was instrumental in discussions with ZAP's strategic technology
partners to create an implementation plan on the development and
engineering for a number of electric and hybrid drive vehicles for
the joint venture, including luxury coaches, buses, trucks and passenger
cars. ZAP CEO Steve Schneider says Mr. Lam brings a wealth of engineering
and implementation experience to ZAP's management.
"Albert Lam's implementation and project planning expertise is helping
us make headway with several projects and we look forward to announcing
these soon," said ZAP CEO Steve Schneider.
During his visit to California, Mr. Lam and ZAP CEO Steve Schneider
held meetings with Advanced Battery Technologies and strategic distribution
partner CCT Power in Beverly Hills. Advanced Battery Technologies
has agreed to supply its battery technologies for ZAP's Recharge-It-All
and iZAP rechargeable battery systems. Plans are being developed
to begin engineering the new batteries for incorporation into ZAP's
portable battery systems for mobile electronics. ZAP and Advanced
Battery Technologies plan to release more details on the venture
in the near future.
"We look forward to testing Advanced Battery Technologies' new,
ultra-thin, small polymer lithium-ion battery and other batteries
for all our projects," said Mr. Lam. "We are now putting in place
a joint project implementation plan to develop an all electric drive
concept demonstrator vehicle to integrate all the key technology
components."
Mr. Lam held meetings with several of ZAP's strategic partners,
suppliers and potential suppliers to explore what technologies will
be suitable for the new joint venture. Mr. Lam has more than 20
years' experience in technology and engineering, including senior
level management. He spent 13 years in the auto industry with Ford,
Jaguar, Land Rover and most recently with Lotus. Mr. Lam has also
worked in senior executive positions at Sun Microsystems and Apple
Computer.
During his visit to ZAP in California, Mr. Lam also met with representatives
from the State of California to explore ways they can cooperate
on the development of new technologies and an infrastructure that
would support the use of electric and plug-in hybrid technologies.
ZAP has been a leader in advanced transportation technologies since
1994, delivering over 100,000 vehicles to consumers in more than
75 countries. At the forefront of fuel-efficient transportation
with new technologies including energy efficient gas systems, hydrogen,
electric, fuel cell, ethanol, hybrid and other innovative power
systems, ZAP is developing a high-performance crossover SUV electric
car concept called ZAP-X engineered by Lotus Engineering. ZAP is
also developing a new generation of vehicles using advanced nanotech
batteries with Advanced Battery Technologies. The Company recently
launched a new portable energy technology that manages power for
mobile electronics from cell phones to laptops.
Forward-looking statements in this release are made pursuant to
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that such forward-looking
statements involve risks and uncertainties, including, without limitation,
continued acceptance of the Company's products, increased levels
of competition for the Company, new products and technological changes,
the Company's dependence upon third-party suppliers, intellectual
property rights, and other risks detailed from time to time in the
Company's periodic reports filed with the Securities and Exchange
Commission.
Source: ZAP
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