ZAP`s electric truck and vans qualify for 10% federal tax credit
ZAP Jonway`s (OTCBB: ZAAP) electric truck and van ZAPTRUCK XL and ZAPVAN Shuttle qualify for a 10% federal tax credit, up to a maximum of $2,500, determined the IRS.
The truck and van qualify under the American Recovery and Reinvestment Act, if purchased after February 17, 2009 and before January 1, 2012 under Internal Revenue Code Section 30.
"These tax credits make our ZAP electric trucks and vans even more affordable to operate," said ZAP CEO Steve Schneider.
"Combined with lower fueling and maintenance costs, which can be a third of conventional cars, this can be a great incentive for our customers to integrate electric vehicle technology into their fleets."
ZAP's electric trucks and vans are made for fixed route deliveries, utility and material handling applications.
Recently, ZAP sold a small fleet to the City of Riverside in California. The company has also sold vehicles to the U.S. Government, military, Fortune 500 companies, universities, municipalities and small business owners.
Its fleet vehicles can achieve the equivalent of over 100 miles per gallon, at a cost of about two cents per mile.
Santa Rosa, California-based ZAP has delivered over 117,000 of a broad range of vehicles to more than 75 countries since 1994. It supplies electric trucks and vans, as well as electric motorcycles, scooters and ATVs.
The company`s shares were up 3.5% before noon on Tuesday, trading at $0.45 on the OTC Bulletin Board
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