Electric Car Maker ZAP Cheers Electric Car Tax Credits in Stimulus Act
 Buyers of the ZAP Xebra plug-in electric car can receive a 10 percent tax credit under the Stimulus Act passed yesterday by President Barack Obama. |
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WASHINGTON, DC Feb 18, 2009; Marketwire reported that officials from ZAP say the Stimulus Act signed into law by President Barack Obama yesterday carries a provision in which buyers of its electric cars and trucks can receive a 10 percent tax credit up to $2,500.
The plug-in tax credit in the Stimulus Act can be applied for on vehicles purchased starting today. The tax credit applies towards ZAP's Xebra sedan (MSRP $11,700) and truck (MSRP $12,500) as well as its new low-speed vehicles, the ZAP Shuttle (MSRP $14,700) and ZAP XL Truck (MSRP $14,500).
The tax credits were initially slated to have an effective date starting January 1, 2010, but ZAP argued that the tax credits would meet the spirit of the Stimulus Act if started immediately. CEO Steve Schneider expressed appreciation to Congressman Mike Thompson (California 1st District) who successfully argued for immediate implementation of the tax credits in the House Committee on Ways and Means.
About ZAP
ZAP has been a leader in electric transportation since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. ZAP manufactures a line of electric vehicles, including electric city-cars and trucks, motorcycles, scooters, bicycles, and ATVs. ZAP sells some of the only electric city-speed cars, trucks and vans in production today and is developing a freeway capable electric vehicle called the ZAP Alias. For product, dealer and investor information, visit http://www.zapworld.com.
