ZAP (fka ZAAP)

[exoticbiker]

Key Execs From Al Yousuf Group Visiting ZAP

SANTA ROSA, CA this summer to explore synergies across their portfolio of transportation companies in which the Al Yousuf Group has invested.

Mr. Ashraf Saeed, the Chief Operating Officer for the Al Yousuf Group, is spending approximately a month at ZAP to explore more ways that Al Yousuf can support ZAP's ambitions in alternative transportation. Mr. Saeed has been cultivating the relationship with ZAP since contact was first made with the Al Yousuf Group.

"ZAP is leading the way by delivering electric vehicles today to meet increased demand and we are excited to bring the experience of our other technology investments into ZAP," said Mr. Saeed.

Mr. Ibrahim Abdue Redha Al Asmawi, the Business Development officer for the Al Yousuf Group, will also be visiting ZAP.

The Al Yousuf Group has taken an investment interest in ZAP's products for distribution in The Middle East and in helping the development the Company.

Mr. Eqbal Al Yousuf was recently appointed Chairman of ZAP's Board of Directors and attended his first board meeting as Chairman in June at ZAP's Santa Rosa headquarters. He also purchased a 50 percent stake in ZAP's Recharge-It-All battery line.

The Al Yousuf Group has invested in other environmentally oriented companies, including companies developing electric transportation technologies. In November, Al Yousuf invested in battery developer Altair Nano. In December, Al Yousuf invested in electric truck developer Phoenix Motorcars.

The Al Yousuf Group is one of the largest trading groups in The Middle East. Over the past 55 years, the Al Yousuf Group has grown into a leading business conglomerate in the Gulf Region with operations ranging from Motor Vehicles, Boat Manufacturing, Auto Rental, Real Estate Development, Home Electrical Appliances, Computer Operating Systems, Electronics, Transportation and more.