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ZAP Cutting Back on Alias Development, Phasing Out the Zebra
In brief: Financial difficulties are forcing ZAP to phase out production of the Xebra and to cut back on development of the much-anticipated Alias.
Vehicle in the news
Make/Model: Alias / Xebra
The Alias has been very much anticipated by many EV enthusiasts as a freeway-capable, 3-wheeled, innovative and stylish electric machine.
The California company showed losses of $2.8 million only revenues of only $1.2 million total 10-Q filing, mostly due to the final phaseout of the Xebra, with what's left in the warehouse being sold at bargain prices.
The company has continually faced financial troubles, as had fellow California-based 3-wheeler maker Aptera.
No word yet, but it doesn't look good for the Alias' entry into the Automotive X-Prize competition either.
And so ...
It's questionable whether ZAP will recover from this. The financial setbacks are continual and these cuts are basically every income stream the company current has.
Photo credits: ZAP
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