Zap (ZAAP.OB) Acquires Ownership Interest in Electric Wheel Motor Company
ZAP (OTCBB: ZAAP) recently announced that it has acquired partial ownership in an electric motor company that will be developing and manufacturing new wheel motors. Zap will be working together with this new electric motor company in the development of a wide range of electric vehicles. The company is planning on marketing these vehicles for worldwide distribution. "So many have focused on batteries as a way to improve the performance of electric vehicles, but wheel motors are truly a giant leap forward," said Gary Starr, who manages product development for ZAP. "Today's ZAP wheel motor vehicles can nearly double the…