-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Ej6da4tE4vq4cN0SjcHM7eBxPyDYvKs1E4yOH2aYcGXvlcN9bYJb/xsFDbFxvc3j Mxn4FHaDrcRhrMFF+zudSQ== 0001072613-07-001062.txt : 20070504 0001072613-07-001062.hdr.sgml : 20070504 20070504084736 ACCESSION NUMBER: 0001072613-07-001062 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070503 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070504 DATE AS OF CHANGE: 20070504 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ZAP CENTRAL INDEX KEY: 0001024628 STANDARD INDUSTRIAL CLASSIFICATION: MOTORCYCLES, BICYCLES & PARTS [3751] IRS NUMBER: 943210624 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32534 FILM NUMBER: 07817865 BUSINESS ADDRESS: STREET 1: 501 FOURTH STREET CITY: SANTA ROSA STATE: CA ZIP: 95401 BUSINESS PHONE: 7075258658 MAIL ADDRESS: STREET 1: 501 FOURTH STREET CITY: SANTA ROSA STATE: CA ZIP: 95401 FORMER COMPANY: FORMER CONFORMED NAME: ZAPWORLD COM DATE OF NAME CHANGE: 19990715 FORMER COMPANY: FORMER CONFORMED NAME: ZAP POWER SYSTEMS INC DATE OF NAME CHANGE: 19970319 8-K 1 form-8k_15147.htm FORM 8-K DATED MAY 3, 2007 WWW.EXFILE.COM -- ZAP -- FORM 8-K -- 15147
 


 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K
  
CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported):  May 3, 2007
                                   
                                     
ZAP
(Exact name of Registrant as specified in its charter)
 

California
001-32534
94-3210624
(State or other jurisdiction of
incorporation or organization)
Commission File Number
IRS Employer
Identification Number
 
501 Fourth Street
Santa Rosa, CA 
95401
(Address of principal executive offices) 
(Zip Code) 
 

(707) 525-8658
(Registrant’s telephone number, including area code)

not applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))





Item 1.01.  Entry into a Material Definitive Agreement

ZAP signed a distribution agreement this week with PML FlightLink Limited (PML) for the purchase of an advanced propriety wheel motor and control system. ZAP received the exclusive rights to use this system in its current and future product line. ZAP secured the PML wheel motor technology to play a key role in the development of next generation electric vehicles being developed with Lotus Engineering. Electric vehicle concepts like the ZAP-X crossover SUV have targeted unprecedented performance goals, including a top speed of 155 mph, 0 to 60 mph acceleration in 4.8 seconds, and a peak 644 horsepower.

In conjunction with the agreement with PML, ZAP has committed to an initial order of approximately $10 million in PML wheel motors, subject to terms and conditions agreed on by the parties.

ZAP has also undertaken a feasibility study with Lotus Engineering to explore the development of next generation electric vehicles that incorporate the latest advances in technology. The two companies met last week at ZAP's headquarters in Santa Rosa for discussions with potential suppliers and distributors.

A copy of the Company’s press release relating to the items described above is attached as Exhibit 99.1.

 Item 9.01.  Financial Statements and Exhibits

     
(d)   Exhibits
 
 
 
 
 
Exhibit
Number
    
Exhibit Title or Description 
 
     
 
99.1
 
Press Release








SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

                   
             
ZAP
   
                
 
   
                
 
Date: May 3, 2007
                
By:  /s/ Steven M. Schneider
                   
 
Steven M. Schneider
                   
 
Chief Executive Officer
 
          
 



EX-99.1 2 exhibit99_15147.htm PRESS RELEASE DATED MAY 3, 2007 WWW.EXFILE.COM -- ZAP -- EXHIBIT 99 TO FORM 8-K -- 15147
 Exhibit 99.1



ZAP (OTC BB: ZAAP) Reinvents the Wheel with Advanced Electric Wheel Motor Technology Partner

US Electric Car Maker Signs Exclusive Agreement with PML FlightLink Ltd. of the Hampshire, UK for New Electric Wheel Motor

SANTA ROSA, California (May 2, 2007) - US electric car maker ZAP (OTC BB:ZAAP) signed an exclusive agreement this week for an advanced wheel motor technology from PML FlightLink Limited of Hampshire, United Kingdom.

ZAP secured the PML wheel motor technology to play a key role in the development of next generation electric vehicles being developed with Lotus Engineering. Electric vehicle concepts like the ZAP-X crossover SUV have targeted unprecedented performance goals, including a top speed of 155 mph, 0 to 60 mph acceleration in 4.8 seconds, and a peak 644 horsepower. Steve Schneider, CEO for ZAP, says PML's wheel motor achieves the power to weight ratio to meet the performance goals of the ZAP-X.

"Wheel motors are revolutionizing electric transportation, from our ZAPPY3 electric scooters all the way up to more ambitious projects like the ZAP-X crossover," said Schneider. "We have witnessed the PML wheel motor technology in action and, without question, this the best drive system in the world. "

Schneider pointed out why wheel motors allow automotive designers to achieve greater efficiencies in the overall design, distributing the weight and displacement of the drive train to the four corners of the vehicle. PML's wheel motors don't require intricate
 
 

 
braking systems, instead relying on advances in regenerative braking that enhance efficiency and performance.

ZAP has undertaken a feasibility study with Lotus Engineering to explore the development of next generation electric vehicles that incorporate the latest advances in technology. The two companies met last week at ZAP's headquarters in Santa Rosa for discussions with potential suppliers and distributors. In exchange for exclusive rights, ZAP has agreed to an initial order of approximately $10 million in PML wheel motors, subject to terms and conditions agreed on by both parties.

“We’ve sort of reinvented the wheel,” said Chris Newman of PML Flightlink to Car and Driver Magazine. The small British electrical-engineering company led by Martin Boughtwood, PML’s director, has produced a remarkable electric Mini to prove the technology. PML FlightLink Limited is a privately held UK corporation with more than 30 years experience in advanced wheel motor and control system development. According to PML, its compact, energy efficient, electric wheel motors produce unrivalled levels of torque with internal heavy-duty tapered roller bearings that can withstand heavy radial loads for robust use, important for the all-wheel drive capability of the ZAP-X.

PML's Hi-Pa Drive™ is a literal revolution in motor technology with an integrated motor and drive electronics in one unit producing an ultra high power density - up to 20 times more than conventional systems. Hi-Pa Drive™ is ultra reliable - 20 times more reliable than conventional systems. It provides high torque in a lightweight flat motor package, ideally suited to vehicle in wheel drives, where its impact on suspension dynamics is minimal. Other features include total weather proofing, total energy transfer, and several levels of redundancy so any single failure will never prevent the vehicle from operating safely. Learn more at PML's website http://www.pmlflightlink.com.

About ZAP

ZAP has been a leader in advanced transportation technologies since 1994, delivering over 90,000 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. The Company recently launched a new portable energy technology that manages power for mobile electronics from cell phones to laptops. For product, dealer and investor information, visit http://www.zapworld.com.

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.

#  #  #

Contact:

Public Relations
Alex Campbell
707-525-8658 ext. 241
acampbell@zapworld.com
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