Electric Vehicles

ZAP Electric Truck and Van Qualify for Federal Tax Credit

September 07, 2010

SANTA ROSA, CA - The Internal Revenue Service has determined that the ZAPTRUCK XL and ZAPVAN Shuttle qualify for a 10-percent tax credit up to a maximum of $2,500, if the vehicle is purchased after Feb. 17, 2009 and before Jan. 1, 2012.

"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 said its electric trucks and vans are particularly suited for fixed route deliveries, utility and material handling applications.

ZAP recently sold a small fleet to the city of Riverside in California. ZAP has also sold vehicles to the U.S. Government, military, Fortune 500 companies, universities, municipalities and small business owners.

ZAP said its fleet vehicles can achieve the equivalent of over 100 miles per gallon, at a cost of about two cents per mile, and are much more economical in price and fuel consumption than conventional vehicles.

Customers should consult with their tax advisor for guidance on their specific tax situation to determine to what extent they will benefit from this tax credit, ZAP said. The IRS has developed the Form 8834 Qualified Plug-In Electric Vehicle Credit, which will be required to file with the federal tax return that covers the date the vehicle was purchased. A copy of the form is available at http://www.irs.gov/pub/irs-pdf/f8834.pdf.

For more information about ZAP electric vehicles, visit www.zapworld.com.

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