DAEGU, South Korea, June 9 /PRNewswire-FirstCall/ -- Gary Starr, founder of electric vehicle pioneer ZAP (OTC Bulletin Board: ZAAP), will deliver a keynote speech on global trends in electric vehicles at Global TransporTech 2010, an annual exhibition and conference for the Korean auto industry. With Korean distribution partner Samyang Optics Co. Ltd. (Kospi: 008080.KSE), ZAP is exhibiting its electric taxi and ZAP Alias prototype electric car at the event being held in Daegu, South Korea.
ZAP is participating in the event as a guest of the South Korean Government and the Korea Trade-Investment Promotion Agency (KOTRA). Representatives from KOTRA recently visited ZAP in California to discuss incentives that would support adoption of electric vehicles (EVs) in Korea. Sponsored by KOTRA, Daegu and North Gyeongsang Province, Global TransporTech 2010 is a gathering of the world's leading automotive and heavy equipment buyers. For further information, visit its website: http://www.2010transportech.org.
Earlier this year, ZAP formed a partnership with Samyang Optics to distribute its full line of EVs in Korea. The Korean government has announced plans to offer subsidies, tax benefits and funding allocations for EVs of over 400 billion won (close to US$500 million) managed by Ministry of Knowledge Economy. Over time, ZAP and Samyang Optics expect to develop an assembly process for EVs in Korea to assist the government in job creation. The goal is to eventually source and manufacture the parts and EV components in Korea.
Mr. Starr is delivering the keynote address on "Global issues and trends related with environment-friendly future vehicles" in his presentation entitled "EV Markets & Opportunities." A prolific EV designer and marketer since 1974, Starr has been involved in the production of over 100,000 of a broad range of EV designs. In 1993 Automotive News named Starr among the top ten authorities in the electric car industry. Copies of Starr's presentation are available upon request.
Founded in 1994, ZAP is one of the world's oldest and most experienced electric vehicle providers. For further information about ZAP, visit its blog at http://zapglobal.wordpress.com or its website at http://www.zapworld.com.
Safe Harbor Statement
This press release contains forward-looking statements. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of ZAP's products, increased levels of competition, new products and technological changes, ZAP's dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the ZAP's periodic reports filed with the Securities and Exchange Commission.