ZAP Commences Development on Green City Partnership in China

ZAP (OTC-BB: ZAAP), a developer of fully-electric and other alternative energy vehicles, similar to companies like Tesla Motors, Inc. (Nasdaq: TSLA) and Toyota Motor Corporation (NYSE: TM), announced that it began project planning with the government of Shanghai’s Yangpu District to develop a Green City Zone in Yangpu’s downtown area.
Electric car pioneer ZAP (OTC-BB: ZAAP) this week began project planning with the government of Shanghai’s Yangpu District to develop a Green City Zone in Yangpu’s downtown area, a university and research hub that is home to 1.24 million people. Based on an MOU partnership agreement signed in San Francisco on November 19, 2010, the project plans to reduce carbon emissions in Yangpu using electric vehicles (EVs) for its public transportation while installing an EV charging infrastructure, battery swap-out stations and maintenance support centers.
The partnership agreement with Yangpu government is a direct result of Governor Schwarzenegger’s trade delegation to Shanghai in September this year, sponsored by the Bay Area Council, and is one of the first formal initiatives between the two regions.
Party Secretary Chen Yin attended the signing ceremony in San Francisco on November 19, 2010. At the ceremony, Party Secretary Chen said that improving air quality, “green” urban mobility and development of clean energy infrastructure are some of the key initiatives of Yangpu in the next few years. He indicated that this agreement shows the beginning of growing ties between two of the world’s leading technology innovation centers, Yangpu and the Bay Area, especially in the development of clean technology. Within the 24 square mile district of Yangpu there are 14 universities surrounding the Knowledge Innovation Center (KIC), a technology community that includes Fudan University and Tongji University, making this area one of the leading research centers in China on Clean Tech.