at least according to the NZ Herald:
Electric car pioneer ZAP and China Youngman Automotive group has announced that they will be reviving a 100-year old electric car brand, Detroit Electric, as a joint venture.
Detroit Electric plans to introduce its electric cars and buses in 2009. The ZAP Alias will be one of several vehicles planned to carry the brand. It also plans to build a special edition based on the original Detroit electric as a tribute to the revival. Also involved in the venture is ex-CEO of Lotus engineering, Albert Lam.
Mr Lam left Lotus in October 2007 to pursue new business with Detroit Electric, joining them as Chairman. Despite the revival, offices for the brand are being planned not for Detroit, but California.
Mr Lam said “We see California as a launch pad. It is one of the most ready markets to adopt these new green vehicle solutions.”
“The governor and his leadership here have created a fertile environment for us to create and grow. Many are talking about the future of the auto industry and Detroit Electric is a name that will speak to generations about the past and the future of automobiles”.
Detroit Electric plans to build an array of cars, trucks and buses with the latest automotive technologies.
The vehicles will be manufactured under the supervision of Youngman Automotive, one of China’s newest automotive manufacturers and a leading manufacturer of buses and trucks.
ZAP will manage the sales, marketing and distribution of the joint venture products. ZAP is selling a full-line of electric vehicles through a growing number of dealerships in the United States. ZAP is also organizing international distribution for its current and future vehicles.
- REUTERS
Zap is joke.Albert Lam coming to Hangzhou in January
Indeed, many people say ZAP is not far from being investigated for securities fraud. Notice how they always manage to pump their stock with a press release promising greatness, but actually just sell a few $5k three wheelers and half a dozen ATVs