zap (ZAAP:OTCQB)
zap (ZAAP) Snapshot
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Open
$0.13
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Previous Close
$0.13
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Day High
$0.14
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Day Low
$0.13
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52 Week High
03/19/13 - $0.27
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52 Week Low
01/7/13 - $0.06
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Market Cap
40.8M
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Average Volume 10 Days
138.6K
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EPS TTM
$-0.07
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Shares Outstanding
302.5M
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EX-Date
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P/E TM
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Dividend
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Dividend Yield
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No Related Businessweek News Foundzap (ZAAP) Details
ZAP, together with its subsidiaries, engages in the design, development, manufacture, and sale of electric vehicles primarily in the United States. Its products include ZAPTRUCK XL, a plug-in-electric vehicle principally designed for fleet operations; ZAPVAN Shuttle, a multi purpose, plug-in-electric vehicle for municipalities, colleges and universities, airports, hospitals, or corporate campuses; Jonway A380 Five-Door, a gasoline powered 4-speed sport utility vehicle; Jonway A380 Three-Door, a gasoline powered sport utility vehicle; and ZAPPY3 Personal Transporters for the requirements of material handling, warehousing, fabrication, and construction industries. The company also markets various other forms of transportation, including alternative energy and fuel efficient automobiles, motorcycles, bicycles, scooters, personal watercraft, hovercraft, neighborhood electric vehicles, and commercial vehicles. In addition, it operates a retail car outlet that sells pre-owned conventional vehicles and advanced technology vehicles. The company primarily offers its products to military, government, and corporate fleets; and has contracts to provide vehicles to the State of California, Presidio National Park, Federal Aviation Administration, Department of Energy, the U.S. Army, United Parcel Service, City of Riverside, and the City of Monterey. ZAP markets and sells its vehicles to consumers through Internet and in person at its Santa Rosa location, as well as through dealers in the United States. The company was formerly known as ZAPWORLD.COM and changed its name to ZAP in 2001. ZAP was founded in 1994 and is headquartered in Santa Rosa, California.
zap (ZAAP) Top Compensated Officers
zap (ZAAP) Key Developments
On 04/05/2013, ZAP announced that they will be unable to file their next 10-K by the deadline required by the SEC.
ZAP announced that the battery Swap version of the E380 SUV has been approved by China National Grid for its battery swap stations in China, based in Hangzhou, Zhejiang Province. The Battery Swap Version of E380 SUV (Model E380-S) was designed specifically to work with the robotic system used for battery swapping as specified by China National Grid. The battery packs that are used have been standardized to fit the robotic arm and also the recharging cabinets in the government funded charging stations that are being deployed by China National Grid. China National Grid (C-NG), the government monopoly that supplies electric power to China has launched extensive programs in selected provinces to support fast battery swapping. Generally, the swap out and replacement takes no more than 6 minutes to complete. In order to stimulate the adoption of Electric Vehicles (EVs), C-NG is promoting the sale of EVs without including the cost of the lithium batteries, and the batteries will be leased from C-NG or authorized funding partners. This business model is being adopted by taxis in Hangzhou, and also by a number of leasing companies that are working in partnership with C-NG. The vehicles could be leased to owners and paid over a period of several years and the cost of the batteries is financed by C-NG and amortized over that period of time. ZAP Jonway's E380-S, developed by ZAP Hangzhou Joint Venture was done in collaboration with China National Grid's engineers and is an alternative model to the E380 SUV that was type approved in January 2013. This E380-S model will undergo type approval in the battery swap configuration. As a follow on product to the E380, the type approval will take shorter time than the first one and the plan is to complete this by the end of this summer.
ZAP announced that it is adding to its product line HYBRID Compressed Natural Gas (CNG) as an additional product in its line of New Energy Vehicles. ZAP Jonway announced that it is launching its first HYBRID CNG vehicle with Jonway Auto's A 380 SUV. This new CNG SUV, named CN 380 is focused on the accelerating growth in CNG vehicles in many developing countries and in the United States. The HYBRID CNG engine in the CN 380 seamlessly allows the driver to utilize the regular gasoline engine when the CNG fuel is depleted, and also automatically uses the gasoline as fuel to run the engine when it is in a cold start state and the engine is warming up. The CNG tank capacity is the same as the gasoline tank, thus offering the driver double the amount of fuel available, inclusive of the existing gasoline tank which is used as the backup. ZAP Jonway is leveraging on the mature A380 SUV platform to offer two models for its CN 380. CN 380 SUV comes in either 1.6 L or 2.0L for manual transmission or the 1.8L for both automatic as well as manual transmission. There is a growing demand for alternative energy vehicles in many South American countries, especially with the escalating cost of gasoline fuel. The savings in fuel cost by going to CNG is estimated to be around 60% to 65%. China is also opening up the market for CNG in many of its southern provinces.
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Industry Analysis
ZAAP
Industry Average
| Valuation | ZAAP | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 0.8x |
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| Price/Book | 2.9x |
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| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | NM | Not Meaningful |
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