ZAP Electric Truck and Van Qualify for Federal Tax Credit
Tuesday, September 7, 2010
SANTA ROSA, Calif., Sept. 7 -- An electric
truck and van produced by ZAP Jonway qualify
for a ten percent federal tax credit, up to a
maximum of $2,500.
The Internal Revenue
Service (IRS) has determined that the ZAPTRUCK
XL and ZAPVAN Shuttle qualify under the
American Recovery and Reinvestment Act for a
ten percent tax credit up to a maximum of
$2,500, if purchased after February 17, 2009
and before January 1, 2012 under Internal
Revenue Code Section 30.
"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's electric trucks and vans
are ideal for fixed route deliveries, utility
and material handling applications.
Recently ZAP 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
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. 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.
About
ZAP
ZAP is one of the world's
oldest and most experienced electric vehicle
providers, having delivered over 117,000 of a
broad range of vehicles to more than 75
countries since 1994. ZAP supplies electric
trucks and vans to military, government and
corporate fleets and is an innovator of
electric motorcycles, scooters and ATVs. The
Santa Rosa, California based company offers
some of the only electric city-speed cars and
trucks in production today and is leveraging
its accrued technology know-how in developing a
cost effective high-speed electric car called
the ZAP Alias. Further news and information is
available at http://zapglobal.wordpress.com.