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ZAP Jonway CEO Joins Bay Area Council to Strengthen Regional Ties with China

Sep,14,2010

SANTA ROSA, Calif.--(BUSINESS WIRE)--Steven Schneider, Chief Executive Officer for ZAP Jonway (OTC BB: ZAAP), is the newest member of the Bay Area Council and will provide strategic support in electric vehicles and other key areas that can help strengthen the region’s economic ties with China. 

Steven Schneider, CEO of automotive and EV maker ZAP Jonway, has joined the Bay Area Council to provide his business expertise on China

“Electric vehicles represent a key challenge and opportunity for the US and China”

ZAP Jonway is a new US-China automotive venture. Northern California’s publicly owned ZAP signed an acquisition agreement with Zhejiang Jonway Automobile Co. Ltd. for a 51 percent stake in the China automobile manufacturing company. Schneider and ZAP Jonway plan to host a trade mission from the Bay Area Council on Saturday, September 11, 2010 at the ZAP Jonway manufacturing facility in Hangzhou, China. Governor Arnold Schwarzenegger is expected to participate in the trade mission.

ZAP CEO and Al Yousuf COO Show Support for Kentucky Governor Signing Executive Order for 40 MPH Electric Car

Aug,6,2008
FRANKFORT, KY-- Steve Schneider, CEO for ZAP (OTC BB:ZAAP.OB) and Ashraf Saeed, COO of the Al Yousuf Group, stood by while Governor Steve Beshear yesterday signed an Executive Order directing the Transportation Cabinet to immediately develop and implement an emergency regulation authorizing the use of low-speed electric vehicles on Kentucky's roadways, including the Xebra, a 40 MPH electric car and truck. ZAP CEO Steve Schneider and Al Yousuf COO Ashraf Saeed (2nd and 3rd from right) witnessed Governor Steve Beshear signing an Executive Order allowing the 40 MPH Xebra electric car and truck on Kentucky roads. "Kentuckians, like all Americans, are hard hit by record-high gas prices," Gov. Beshear said at a news conference today announcing the order. "These tough times call for creative solutions, and I believe allowing Kentuckians the option of using an electric vehicle is one of those solutions. Electric vehicles may help ease the burden on the pocketbooks of hard-working Kentucky families, as well as reduce their carbon footprint."

ZAP CEO Steve Schneider and Al Yousuf COO Ashraf Saeed (2nd and 3rd from right) attended the announcement

ZAP CEO Steve Schneider attended the press conference for the Governor's announcement as an invited guest by the State of Kentucky and officials with Integrity Manufacturing of Shepherdsville. Following the announcement Schneider and Governor Breshear got away from the press to talk and take a spin in a ZAP Xebra. Mr. Ashraf Saeed, Chief Operating Officer of the Al Yousuf Group, accompanied Schneider on the visit. A trading conglomerate based in Dubai, the Al Yousuf Group has provided nearly $15 million in capital over the past year to help ZAP increase its electric vehicle manufacturing, marketing and distribution. Schneider said both he and Saeed were very impressed by the visit and plan to explore ways of working with Kentucky to expand the use of electric vehicles. "Never have we received such hospitality and such overwhelming enthusiasm for electric vehicles as exhibited by the Governor and every single person we met while in Kentucky," said Schneider. "Seeing such a swift reaction by the Kentucky government in favor of ZAP affirms our belief that the time is now for electric transportation to play a greater role in society. We all want to build better transportation and it doesn't matter if you live in Kentucky or California, the dream is everywhere."

ZAP Enters China Electric Vehicle Market with Holley Group, the Global Leader in Electric Power Meters

December 16 2009

SANTA ROSA, California and HANGZHOU, China (December 16, 2009) -- Electric transportation pioneer ZAP (OTC BB: ZAAP) and Holley Group, the world's largest volume producer of electric power meters according to the Wenhui-Xinmin United Press Group, have established a joint venture company in China with backing from venture capital firm Better World International to target the electric vehicle market in China.

Named ZAP Hangzhou, the new company plans to design and manufacture electric vehicles and develop infrastructure technology for the Chinese market. ZAP, Holley Group and Better World have entered a joint venture agreement, and officials state that ZAP has funded its initial capital requirements under the agreement.

Holley Group is an established enterprise in China and is the parent of Holley Metering Limited. Over the past 30 years Holley Metering helped pioneer electric power meters in China. Last year, Holley Metering sold over 10 million units worldwide.

ZAP Hangzhou will combine ZAP's intellectual property, electric vehicle technology and know-how with Holley's experience in electric metering to develop electric vehicles and related technologies targeting the Chinese market. The companies plan to use their knowledge of the local Chinese market to target opportunities for electric vehicle growth within China’s vehicle fleets. As part of this relationship, ZAP Hangzhou plans to begin the installation of manufacturing operations at Holley’s Hangzhou facilities in the near future.

The relationship with Holley is the next step in ZAP’s plan to deliver quality, cost effective electric vehicles to the fleet vehicle market, plans which began earlier this year with the investment by Cathaya Funds through its Better World affiliate. Priscilla M. Lu, Ph.D., Founder and General Partner of Cathaya Funds and a veteran technology executive with extensive international experience, agreed to join ZAP’s Board of Directors as Chairman in connection with the investment. Dr. Lu led this China initiative and helped ZAP execute on its international strategy, in particular its relationship with Holley and its market strategy for China.

"It is important to note that the purpose for my investment in ZAP earlier this year was to bring these companies together for the electric vehicle market opportunity in China," said Dr. Lu.

"We have had a long standing working relationship with Dr. Lu and have confidence that under her leadership and experience in the Chinese market, ZAP will be able to approach this market effectively and competitively with innovative EV product solutions," said Holley Chairman and CEO Richard Wong.