ZAP, Advanced Battery in joint venture

Electric car maker ZAP (BULLETIN BOARD: ZAAP) and lithium-polymer and nanotech battery developer Advanced Battery Technologies (BULLETIN BOARD: ABAT) said today they have opened a joint development office in Beijing.

The two companies plan to work together to expand their research, manufacturing and marketing of advanced batteries for electric cars.

This announcement comes just nine days after ZAP made a deal to buy $5.2 million in batteries from Advanced Battery, which has R&D and manufacturing facilities in Harbin, China (see ZAP makes battery deal).

Santa Rosa, Calif.-based ZAP said the batteries will be used in its XEBRA electric cars and trucks as well as in other vehicles and battery systems.

Advanced Battery said its products incorporate nanotechnology to create lithium-polymer batteries with high energy density while improving performance, life expectancy and safety.

"After spending a great deal of time with Mr. Fu, we believe he is a true visionary with the desire to improve the environment through technology," said ZAP CEO Steve Schneider of Advanced Battery chairman Zhigou Fu.

"We are looking forward to testing these new batteries in our ZAP cars, trucks, motorbikes and other vehicles," he said.

The companies said today that batteries using nanotechnology can offer electric cars three to five times greater performance in terms of range and speed, as well as faster charge times, in some cases as little as ten minutes.

ZAP, founded in 1994, has sold over 100,000 cars, trucks and scooters around the world, making a recent push for sales in the States with over 20 licensed dealers in the U.S. so far.

Founded less than five years ago, Advanced Battery Technologies makes batteries for electric vehicles, cell phones, notebook computers and other electronic devices.