ZAP Jonway Adds to Finance Team, Leo Shan as Deputy CFO of Jonway Auto

March,11,2011
SANTA ROSA, Calif.–(BUSINESS WIRE)– Electric car pioneer ZAP Jonway (OTC BB:ZAAP.ob – News) and its majority owned subsidiary Jonway Automobile added another member to its finance team following the appointment of Benjamin Zhu as Chief Financial Officer last week. Leo Shan Yongqiang has joined as Deputy CFO effective March 1, 2011 and will assume responsibility of Jonway Automobile in China as part of Benjamin Zhu’s global finance team.

Since 2008, Leo Shan was deputy finance director for Chery Automobile, a leading maker of passenger cars in China. He was also CFO for Chery’s international joint ventures, overseeing finances for Chery’s overseas subsidiaries, including investments in Russia, Brazil, Uruguay, Malaysia, Ukraine, Kazakhstan and Iran. Prior to this he was finance controller in China from 2006 to 2008 for German publisher Wolters Kluer Information & Technology Co., a leading global information services and publishing company. He also served as Senior Auditor from 2003 to 2006 at Price Waterhouse Coopers in Beijing.

“Leo Shan comes with extensive international finance experience and will be helping us manage our international global partnerships and expansions in joint ventures with companies in many countries around the world,” said Mr. Zhu.

“Benjamin Zhu and Leo Shan strengthen the executive finance management team of ZAP Jonway and bring in-depth knowledge of the automobile space as well as broad international market relationships,” said Dr. Priscilla Lu, Chairwoman of ZAP Jonway.



This press release contains forward-looking statements. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of ZAP’s products, increased levels of competition, new products and technological changes, ZAP’s dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the ZAP’s periodic reports filed with the Securities and Exchange Commission.