Our sleuthing colleagues over at The Truth About Cars have dissected electric car maker Zap's latest 10-Q filing, and they unearthed the following little tidbit: "The decrease of $1.5 million (in revenue) is primarily due to the phase out of our three wheeled Xebra vehicle with reduced selling prices."

We can't say that we're particularly shocked that Zap has found it difficult to continue moving its little three-wheeled Xebra contraption, especially with discretionary spending money in such short supply these days and reasonably-priced hybrids flooding the used car market. Perhaps even more damning for Zap, though, is the admission that it is doing "less work on the development of the Alias prototype vehicle."

Whatever the future has in store for Zap in 2010 and beyond, one thing is for sure: there will be no shortage of press releases to let us all know what's (supposedly) going on behind closed doors.

[Source: TTAC]

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