Engineering Executive Makes Move to Pursue Electric and Hybrid Cars SANTA ROSA, CA--Oct 2, 2007 -- Electric car pioneer ZAP (OTC BB:ZAAP.OB) announced today that veteran automotive and technology executive Albert Lam has agreed to join its Board of Directors.
![]() In September, Albert Lam, and ZAP CEO Steve Schneider attended a joint venture signing ceremony with China Youngman Automotive Group in Jinhua. Mr. Lam stepped down as CEO of Lotus Engineering to pursue business opportunities making electric and hybrid cars. He has accepted a position as the Chairman of the new joint venture company and has agreed to join ZAP's Board of Directors. In September, Albert Lam and ZAP CEO Steve Schneider attended a joint venture signing ceremony with China Youngman Automotive Group in Jinhua. Mr. Mr. Lam remains a consultant with Lotus Group, but recently stepped down as CEO of Lotus Engineering to pursue new business opportunities between Lotus, its parent company Proton, and one of its key clients in China, Youngman Automotive Group. Mr. Lam was responsible for bringing Youngman, ZAP and Lotus Engineering together. A British national, Mr. Lam attended Coventry University where he earned a Masters of Science degree in robotics and manufacturing, and registered for a PhD program in Complex Knowledge Systems. Since 2003, Mr. Lam served as the CEO for Lotus Engineering as well as Executive Director for Lotus Group International (2003-2006). Over the past few years he helped restructure Lotus Engineering into a client-focused business by winning major engineering contracts and playing a key role in bringing the Company back to profitability. Mr. Lam has 13 years' experience in the auto industry with companies like Jaguar, Land Rover, Ford and others. Prior to joining Lotus, Mr. Lam started a major professional services group as Managing Director for Sun Professional Services, building it from a small team to a multi-million dollar services business employing over 200 people. Mr. Lam has experience with startup companies and a track record in growing and expanding businesses. He has held executive positions with Sun Microsystems and Apple Computer. "Having someone with the industry credentials of Albert Lam join the ZAP team will be important as we launch the next level of full performance vehicles," said ZAP CEO Steve Schneider. "This project with ZAP is a dream come true because it involves integrating new technologies for the next generation of automobiles," said Mr. Lam. "The technology is ready for electric vehicles so they will not have the stigma that they used to have; they don't have to be slow; they can have a long range; and they can be exciting to look at." Last week, ZAP announced a joint venture with Youngman, one of China's leading manufacturers of luxury motor coaches and trucks, to make electric and hybrid cars, buses and trucks. In addition to joining ZAP's Board, Mr. Lam has been named Chairman of the Board for the new joint venture company. Recently, Youngman made headlines by working with Proton, Malaysia's National automaker, to distribute passenger cars in China. Mr. Lam was CEO for Lotus Engineering when it conducted a feasibility study with ZAP to explore a new generation of electric vehicles using the new advances in technology. In February 2007, ZAP and Lotus Engineering introduced an electric crossover SUV concept called the ZAP-X at the National Auto Dealer Association. In June, ZAP introduced a second high performance electric vehicle design that will be more affordable and available sooner than the ZAP-X. |
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