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ZAP (ZAAP) – Ride this Xebra and get a $1K Rebate

This is more than your $75 cell phone rebate; more than the 50-cent rebate on the back of your favorite pack of razors. Today, the California Air Resources Board, a department of the California Environmental Protection Agency, announced it is offering a $1,000 rebate toward the purchase of a Xebra electric car or truck, manufactured by ZAP (OTCBB: ZAAP).

In a pocket-pinching economy, this news drives rebates to a new level. Not only do customers receive a rebate, but heading to the gas pump on the way home will cost as little as 60 cents. The rebate covers more than 30,000 miles of driving; assuming electricity costs are roughly 3 cents per mile, this could result in several years of fuel-free driving.

“This program alone is enough incentive to stimulate Xebra sales to a whole new level,” ZAP CEO Steve Schneider stated in the press release. “Similar programs in electric car programs in Oregon have helped contribute to the sale of more Xebras. Being the eighth largest economy in the world, this program will be well received by our dealers and Californians.”

The company has delivered more than 700 units of the Xebra as of April, and the company’s backlog is racking $6.8 million in orders. The vehicles’ popularity lays in its unique design, roomy interiors, and of course its minimal impact on the environment.

The board approved the rebate after the vehicles passed a battery of tests. The program is part of $25 million in funding that came out of Assembly Bill 1811, which promotes alternative fuel infrastructure and vehicles.

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