Tesla Motors is not the only electric car company of late to see some much welcomed cash flow into its pockets. Another EV manufacturer known as ZAP recently secured some additional funding from investors hoping to see the world of electric vehicles return some profit to them someday.
ZAP said it secured $25 million in new funding from an investment firm based in the SIlicon Valley business area of California. The company plans to “use a portion of the funding to pursue longer-term contract production and assembly commitments, and to accelerate deliveries of trucks and vans to fill current fleet and government orders.” ZAP, in business since 2004, develops a range of electric vehicles and says it has delivered “over one hundred thousand vehicles to consumers in more than seventy-five countries.”
image via ZAP
ZAP [via press release]
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