ZAP, ETI Tech sign MOU

ZAP, an electric vehicle pioneer based in Santa Rosa, Calif., and ETI Tech Corp. Bhd, Malaysia’s home grown green technology company, announced their intention to form a manufacturing and distribution joint venture. They have signed a binding memorandum of understanding (MOU) for the supply of ETI Tech batteries and battery management systems (BMS) for ZAP personal transportation electric vehicles and expect to execute a definitive agreement within 90 days from the date of signing the MOU. Under the MOU, ZAP shall provide its personal transportation vehicle line to ETI Tech in Malaysia for the integration of its battery and BMS technology. (August 20, 2009)