ZAP (OTC:ZAAP) has announced that it has entered into the China Electric Vehicle market with Holley Group. The two companies have entered into a joint venture in China from venture capital firm Better World International. The joint venture company is named ZAP Hangzhou, and is intended to design and manufacture electric vehicles, in addition to developing infrastructure technology for the Chinese market.
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ZAP is engaged in the marketing various forms of transportation such as alternative energy automobiles, motorcycles, bicycles, scooters, personal watercraft, hovercraft, neighborhood electric vehicles and commercial vehicles. The company also produces electric scooters named ZAPPY. The company operates within two business segments, ZAP Automotive and ZAP Power Systems.
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