ZAP (ZAPZ) announced that it has taken an equity position in Zibo Enterprises Co. Ltd., a manufacturer of advanced battery technology in The People's Republic of China.

Steve Schneider, Chief Executive Officer for ZAP, says that the announcement is the next step in the Company's business plans to establish a ZAP Energy Division. Schneider says the synergy between advanced automotive and energy technology has prompted ZAP to expand and departmentalize to focus on these respective markets. [ more ]