1988 Pontiac Fiero Formula V6 FOR SALE
www.flemingsultimategarage.com 301.816.1000 Only 46718 original documented miles (around 2K miles a year), designed by Delorean + the last year ...





www.flemingsultimategarage.com 301.816.1000 Only 46718 original documented miles (around 2K miles a year), designed by Delorean + the last year ...
A short history of a pioneering company and the development of the Alias.
In order to provide some history of the ZAP Alias entry in the Progressive Insurance Automotive X Prize (PIAXP) , one needs to appreciate the origins of ZAP, which is a challenge unto itself since ZAP was founded in 1994, over 15 years ago, making it one of the earliest companies to enter the EV business. So, please be patient, this could take awhile.
It could be said that ZAP almost became a victim of its own success, moving electric vehicles from a cottage industry into a major tech trend. On the verge of the year 2000, ZAP had over 150 employees in Sebastopol with a small factory churning out as many as 100 electric scooters per day with several additional EV designs under active development. ZAP helped fuel a global craze for stand-on scooters, but it was not long before low-priced, off-shore Asian competition started copying ZAP’s patented systems, a painful lesson in highly competitive global marketing that nearly put the company out of business.
ZAP had been selling its US-made electric scooters for over $500, when offshore replicas started flooding the US market through several large retailers for around $200. Â Although ZAP sued and prevailed against
At the time, ZAP was widely regarded for its quality scooters, but when faced with two similar choices, consumers and especially chain stores demonstrated that price trumps quality. Sales plummeted and layoffs followed. By 2002, ZAP was turned upside down, helped in part by falling share prices, differences in management, the Dot Com crash and even 9/11. Over the next year ZAP voluntarily sought protection under Chapter 11 Reorganization , entering February and emerging with the backing of stakeholders in May 2002. Although most reorganizations leave the old shareholders with no equity position, ZAP’s plan was one of the few that gave all old shareholders a stake as well as stock options in the reorganized ZAP.  ZAP’s plan of reorganization coincidentally enough was to get back into electric cars through new leadership and investment from current CEO Steve Schneider who had been looking to enter the electric car market with his own company Voltage Vehicles in nearby Santa Rosa.
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