Kentucky to get Zapped by Zap?
The state legislature is considering a special session to roll out the red carpet for ZAP Motor Company. The C-J breathlessly enthuses on the details. However, the C-J fails to mention the seriously negative reputation ZAP Motor Company has accumulated. From Wikipedia:
An article from Forbes magazine in June 2007 criticizes the company for over-issuing stock and failing to produce results or show significant profits.[1]
A feature article in the April 2008 issue of Wired alleged that "ZAP has taken millions from investors and dealers eager to see the company's line of green cars hit the road. But that line has never materialized."[2]
ZAP sold a lot of shares based on its intention to sell Smart cars, but that deal fell through, leading the Smart car's manufacturer to say that ZAP's behavior revealed "both the sham nature of its purported business and a lack of trustworthiness that is nothing short of stunning."[3]. Zap has a history of making public relations statements for future projects which are never implemented or funded.