VW electric car sales plunge: Why are Europeans returning to petrol?
April 11, 2024
By Angela Barnes Sales of Volkswagen electric vehicles in Europe fell by almost a quarter in the first three...
ZAP Electric raises $25 Million in New FinancingZAP Electric raises $25 Million in New Financing
California based ZAP Inc. announced Monday that it has received $25 million in new financing from Silicon Valley investment group Cathaya Capital Inc.. Currently producing several low-speed electric fleet and personal vehicles, Zap plans to begin production of the Alias, it’s highway-capable electric three-wheeler, in 2010.
The company says that it will use a portion of the $25 million to pursue longer-term production commitments and to accelerate deliveries of trucks and vans to fill fleet orders. “This is a critical juncture for Zap as we now have the means and resources to begin addressing the opportunities at hand on a global basis and to fully realize the leadership position possible in the electric vehicle marketplace.” said CEO Steven Schneider.
[SOURCE: Silicon Valley Business Journal]
View original artcle at: “https://www.greencarreports.com//news/1034119_zap-electric-raises-25-million-in-new-financing”
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