ZAP : Jonway Appoints New CFO, Benjamin Zhu Li Dong, Former Deputy CFO of Beijing Auto, Foton

02/28/2011
SANTA ROSA, Calif., Feb. 28, 2011 /PRNewswire/ -- Electric car pioneer ZAP (OTC Bulletin Board: ZAAP), headquartered in Santa Rosa, California, and its majority owned subsidiary Jonway Automobile, are pleased to announce the appointment of Benjamin Zhu (Zhu Li Dong) as the Chief Financial Officer of ZAP and Jonway Automobile. Benjamin Zhu joins ZAP and Jonway Automobile March 1st, 2011. William Hartman, current CFO of ZAP will complete the year-end 2010 audits and the consolidated report of ZAP and Jonway Automobile for 1Q2011, while Benjamin Zhu and his team take over 2Q2011.

Since 2009 Benjamin Zhu has served as deputy CFO of Beijing Auto, Foton, one of the largest automobile companies in China, with reported yearly sales volumes of over 700,000 units. He led the group's operational finance, cost control and overseas partnerships and investments. Prior to this, he served as CFO of Ready Medicine Group, one of the largest medicine distribution and retailing companies with revenues of over 6 billion RMB. As CFO he led mergers and acquisitions and oversaw the IPO of the company in the United States in 2008. He was also the CFO of Chery Auto Group, China's largest passenger car automaker with reported sales volume of over 680,000 passenger sedans annually. From 2007 to 2008, as CFO he led the IPO of Chery Automobile in China. Prior to this, Mr. Zhu was Audit Manager at Deloitte & Touche and then at Price Waterhouse Coopers for nine consecutive years.

"We welcome Benjamin Zhu as Chief Financial Officer of ZAP Jonway," said Dr. Priscilla Lu, Chairman of ZAP Jonway and General Partner of Cathaya Capital. "We are bringing a new team of management executives on board to lead the growth of the new, combined ZAP Jonway. Mr. Zhu brings to our company tier one Chinese automobile finance management experience. His extensive international experience will help reinforce our financial growth, and his strong auditor background will help exert the required discipline in financial control, leveraging the knowledge from when he was audit manager at Deloitte and Price Waterhouse."

China Plug-In Electric Vehicle Forum 2011

Jan,10, 2011

China Plug-In Electric Vehicle Forum 2011 with the main theme of "Improving Infrastructure & Facilitating Industrialization", organized by Genesis Resourcing Consulting China, to be held on 10 & 11, March, 2011 at Pudong Ramada Plaza Shanghai, China.

Over the next ten years, the Chinese government will invest more than Yuan 100bn (US$15bn) in subsidising the country's industry and infrastructure for environmentally friendly and alternative fuel vehicles.

This two-day conference and exhibition will gather 200+ EV OEMS, Utilities, Charging Infrastructure Developers, EVs Charging Equipments, Technologies and Solutions Providers, Regulatory and Standards Bodies, Battery Technologies Providers, Components Manufacturers, Application Developers, Consulting and Investing Companies, Research Institutions and Associations to create win-win business models for China EV charging infrastructure economy.

Advisory board Chair Dr. CC. Chan in ZAP is one of the speaker in this event.

Dr. CC. Chan is President of the World EV Association EV Association of Asia Pacific Member of the Chinese Academy of Engineering Prof. He has had over 50 years academic and industrial experience. He is currently the Honorary Professor and the former Head of the Department of Electrical and Electronic Engineering, the University of Hong Kong. Prof. Chan is a Fellow of the Royal Academy of Engineering, U.K., the Chinese Academy of Engineering, the Ukraine Academy of Engineering Sciences, IEEE, IET and HKIE. He authored and coauthored 11 books, over 300 technical papers and holds 9 patents. His mission is to promote the global collaboration for the advancement of science and technology for global sustainable development.

OffcialWebsite:http://www.chinaevforum.com/index.asp

ZAP (OTC-BB: ZAAP) Moves to Complete Jonway Acquisition

Dec,21, 2010

Electric vehicle pioneer ZAP (OTCBB: ZAAP) completed its initial down payment of US$10 million towards the 51% acquisition of Jonway Automobile. Jonway Automobile plans to complete an audit of its financial statements by December 31, 2010 and thereafter, ZAP intends to finalize the acquisition with the payment of the US$19 million balance of the US$29 million purchase price.

ZAP Jonway factory

Jonway Automobile reported sales of over 4,000 gasoline vehicles through the end of September 2010, and projects total sales of over 6,500 vehicles by December 31, 2010. Jonway Automobile reported that wholesale sales prices of the vehicles averaged US$10,000. Jonway Automobile projects year-end revenues for 2010 to increase more than 40% compared to last year with its current gasoline vehicle product line. Jonway Automobile reports that it is debt-free, cash flow positive and able to finance its gasoline product revenue growth at the same rate for 2011.

Under the new equity structure, Jonway Automobile will be 51% owned by ZAP, and 49% by its original parent Jonway Group. This equity ownership transfer was approved by the Chinese government on October 3, 2010. Jonway Automobile plans to ramp up production of the A380 SUV electric vehicle (EV) in the first half of 2011 together with ZAP’s Alias EV by third quarter 2011 at their Sanmen, Zhejiang factory. By combining Jonway Auto’s ISO 9000 manufacturing facilities, capable of delivering over 50,000 vehicles per year, with ZAP’s EV technologies, products and expertise, the company aims to lead the emerging EV fleet market in China.
Alex Wang (Wang Gang) was recently appointed by ZAP’s board to be Co-CEO of ZAP. ZAP Jonway will expand the market to sell both gasoline and EVs from China to rest of the world.

ZAP Jonway recently showcased its EV product line at the 25th Electric Vehicle Symposium in Shenzhen to launch its EV sales in China targeting volume production delivery by the first half of 2011.

Focused on delivering quality products, Jonway started to sell its A380 SUV product line last year, offering quality and value incorporating a Mitsubishi power train. ZAP Jonway plan to enhance manufacturing facilities to produce electric vehicles in Jonway’s 3.6 million square feet of factory facilities on the 141 acres of land in Sanmen, Zhejiang Province, China.

The Gravitational Pull of China

November 29, 2010

A recent report from iSuppli, an El Segundo technology research firm, predicts China will dominate nearly 72 percent of new photovoltaic manufacturing capacity this year.

Chinese companies hold seven of the positions on iSuppli’sT op 10 list, representing 6,445 megawatts of manufacturing capacity.

The back end of yet another green tech vehicle headed for manufacture in China.

 

ZAP Signs Agreement With Shanghai Officials

Shanghai officials have contracted Santa-Rosa based EV maker ZAP to provide charging stations, battery swap facilities and maintenance depots for the city's commercial Yangpu district. 

ZAP will also be working on a pilot electric vehicle eco-city program, incorporating vehicles developed by ZAP in Yangpu's bus, taxi and government fleets, with sales and marketing offices and research and development centers to be located there.

ZAPJonway's Good Performance on Stock Market with providing Update on Jonway Acquisition

 Zap(BB) Stock Chart (ZAAP)

• Electric vehicle pioneer ZAP completed its initial down payment of US$10 million towards the 51% acquisition of Jonway Automobile. 
• Jonway Automobile plans to complete an audit of its financial statements by December 31, 2010 and thereafter, ZAP intends to finalize the acquisition with the payment of the US$19 million balance of the US$29 million purchase price.  
• Jonway Automobile plans to ramp up production of the A380 SUV electric vehicle (EV) in the first half of 2011 together with ZAP’s Alias EV by third quarter 2011 at their Sanmen, Zhejiang factory. 
•  Jonway Automobile reported sales of over 4,000 gasoline vehicles through the end of September 2010, and projects total sales of over 6,500 vehicles by December 31, 2010.
• Read more:http://finance.yahoo.com/news/ZAP-Provides-Update-on-Jonway-bw-2656306336.html?x=0&.v=1

Nov,22,2010

ZAP and Jonway Auto Show Lineup at 25th Internationaicle Symposium (EVS-25) Electric Vehicle

Nov 08 2010

ZAP Jonway Exhibit at EVS-25 November 5-9 in Shenzhen, China

ZAP Jonway A380 Electric SUV/TAXI Exhibit at EVS-25

ZAP Jonway is showing off some of its most up to date electric vehicles at EVS-25. The ZAPPY3, the ZAPINO, ZAP DUDE electric ATV and the Electric SUV/ Taxi are commanding everyone’s attention. There is a great deal of interest for the Remy motors that we are displaying in the booth. The electric SUV/TAXI has been the focal point for the visitors to our stand. People from Hong Kong and UK are asking for right-hand steering wheels. Technology suppliers have been requesting the opportunity of testing their equipment in the A380. Having a great deal of interest from distributors in many parts of the world for using our ZAP fleet vehicles, Germany, Italy and Australia. A lot of sales interest for the ZAP DUDE. We’ve even noticed engineers from competing companies just couldn’t resist coming over to learn about our vehicles. People are also having fun test riding the ZAPPY3. Enthusiasts and friends of ZAP and Jonway are also visiting to say hello, including Lotus Engineering, Japanese Media, Chinese Media and high level executives from Jonway. We expect an even busier day tomorrow.

ZAP and Remy Electric Motors Sign Strategic Development and Supply Agreement

Date: Thursday, November 4, 2010

SHENZHEN, China, Nov. 5, 2010 

Remy Electric Motors, LLC, has been named the new electric motor supplier
to ZAP (OTC Bulletin Board: ZAAP). Today ZAP Founder Gary Starr and Remy
Electric Motors General Manager Kevin Quinn told an audience of exhibitors
and participants at this year’s World Electric Vehicle Symposium and
Exposition (EVS) in Shenzhen, China, that the two companies have signed a
long term motor supply and development agreement. Remy HVH 250 electric
motors will now be used globally in ZAP’s cars and sports utility vehicles.
Additionally, ZAP is developing a drivetrain with the Remy motor for use in
automotive platforms of ZAP and those of several Chinese vehicles.

The Third day of EVs25 in Shenzhen

The openning ceremony was hold today. The openning time is one hour ahead, so we went to our stand earlier than before.What we need to do before the exhibition beginning is to preparation work, including clear the car, prepare the brochure which we can offer to visitor.

Gary Starr, Derictor of R&D, come to our ZAP Jonway's stand in the morning. He talk to employee about our exhibited EV, take photos with our client who order our popular ZAPPY3.

The Second Day of EVs25 in Shenzhen

Nov.6, Saturday, Today is second day of Shenzhen EVs25.There are more visitors than yesterday because many people is on their vacation. There is no doubt they choose going to the electric vehicle exhibition.

We introduce our EV to visitors, including professionals in specific area of electric vehicle industry, dealer of EVs and fans of electric cars. Our well-designed vehicle and four companies products(ZAP, Jonway, Remy electric motor and Betterworld zCharger exhibited in our stands attract the eyeballs of vistors.

ZAP Jonway's CEO Steven Schneider come to the exhibition booths to have an interview with related professionals.

EVs25 ZAP Jonway Fleets Showcase

ZAP Jonway Electric Taxi

The electric SUV is based on Jonway's poopular A380 platform and converted to all electric operation using ZAP's exclusive powertrain technology.

Electric Power Train

ZAPPY3

The go-anywhere/anytime electric scooter with great range and maneuverability.

Zapino

ZAP Jonway's Zapino e-Motorcycles ranging from 500w to 7000w, all built to exacting standards to assure performance, durability, reliability, stablility and safety.

 Remy Electric Motor

Remy Electric Motors, LLC, has been named the new electric motor supplier
to ZAP.
Remy International manufactures and distributes electric propulsion motors

designed with leading edge technology and backed by the security of over a
billion miles of proven reliability.

BetterWorld zCharger

Better World International, Ltd., is a BVI company with headquarters in Hong Kong focused on infrastructure technology and services for electric vehicles.

ZAP Jonway acquire Jonway Auto Officially and Launch A380 to China Market

Sep 25 2010

ZAP and Jonway automobile sign the contract of fully cooperation and launch A380 to the market in this October. The photo of signing ceremony is as follow:

ZAP press conference to Chinese media

ZAP, a U.S. electric vehicle pioneer, is hosting a press

conference on Wednesday, April 21, Yves Saint Laurent Shoes at 2 PM to introduce its design and engineering expertise to the Chinese media as well as outline production plans

to bring allelectric vehicles to the Chinese market.

IntraLinks, the leading provider of critical information exchange

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Jonway Celebrates ZAP Acquisition at Taizhou Factory

September 27

TAIZHOU, China--Zhejiang Jonway Automobile Co. Ltd. of Taizhou, China announced its acquisition agreement with U.S. electric vehicle pioneer ZAP (OTCBB:ZAAP) to the Chinese media Friday, which included a ceremony and celebration attended by thousands at its factory for the A380 SUV.

ZAP's acquisition of Jonway Auto is the most significant business transaction of its kind this year in Taizhou, a coastal city of six million people, said ZAP CEO Steve Schneider and Jonway Auto CEO Alex Wang. The two hosted an event Friday with thousands in attendance, including autoworkers, politicians, business leaders and media.

The celebration for the new venture between ZAP and Jonway Auto continued over the weekend. ZAP Jonway sponsored Taizhou's Green Crab Festival on Saturday, an annual event that attracted more than 18,000 people, including several Hong Kong movie stars and celebrities. The Green Crab festivities aired on major television networks throughout China, highlighting the "green" connection to ZAP Jonway.

China OKs ZAP's acquisition of 51% stake in Jonway Automobile

September 19, 2010
By Alfred Tian  From tianyongqiu.blog.sohu.com

SANTA ROSA, Calif.-- The Commerce Department of Zhejiang Province in China has approved U.S. electric vehicle maker ZAP's proposed acquisition of a 51 percent equity interest in Zhejiang Jonway Automobile Co. Ltd., according to a ZAP press release on September 17.

ZAP and Jonway now intend to move forward to satisfy the remaining conditions to closing the transaction, including but not limited to those related to financing, foreign exchange authority approval in China and share registration, says the release.

According to the terms of the definitive agreements, ZAP has the right to acquire the remaining 49 percent of Zhejiang Jonway Automobile Co. Ltd. at the same valuation by March 30, 2011 or at a then current valuation after that date.

ZAP and Zhejiang Jonway Auto signed an agreement to produce electric SUVs, cars and other electric vehicles in China for domestic and global distribution on January 21. According to the agreement, ZAP would perform research and development of the core technology in Santa Rosa, California and license the technology for this partnership. ZAP and Jonway will jointly market and sell electric vehicles in China, North America and Europe. ZAP said its China operations aim to capitalize on Chinese government subsidies for plug-in electric vehicles.

The 5-door Jonway A380 SUV (named UFO in China), which integrates ZAP's AC propulsion and lithium battery system technologies, will be the first model jointly produced by the partnership, said ZAP.

Jonway currently manufactures several thousand units per month of its A380 compact SUV in 3- and 5-door models. The Taizhou-based automaker now has an annual roduction capacity of 50,000 vehicles and 600 dealerships.

Zap partners with Chinese OEM on electric SUV

April,23,2010

An all-electric SUV under development by an American company and a Chinese automaker made its public debut at an EV eco-challenge competition in South Korea.

"This was our first time road testing the SUV in public, and the vehicle completed 205 km of the 220-km course," said Steve Schneider, CEO of electric vehicle supplier Zap, a California company developing an all-electric five-door SUV with China's Zhejiang Jonway Automobile.

Sponsored by the .Korean Ministry of Knowledge Economy, the Ministry of Land, Transport, and Maritime Affairs, and the Ministry of Environment, event participants at the three-day EV Eco Challenge & Fair in March included battery and recharging companies, auto parts manufacturers, and EV producers Leo Motors, CT&T, AD Motors, Green Car Clean City Inc., Zap, and Zap's Korean distributor, Samyang Optics.

Zap-Jonway's front-wheel-drive SUV was fitted with a 108-V lithium-ion battery pack. "We have two versions," said Gary Starr, Zap Co-Founder and Director of Business Development. "There's a 108-V pack with a 22 kW·h capacity and a 360-V pack with a 35 kW·h capacity." .

The electric SUV averaged 85 km/h (53 mph) on a course that included city driving as well as highway cruising along hilly terrain in occasional snowy conditions, according to Schneider. Charging stations were at the 58-km (36-mi), 114-km (71-mi) and 159-km (99-mi) route points.

The SUV's batteries were recharged for 1.5 h at the first charging station and 2.5 h at the second charging station. "But the vehicle ran out of charge 8 km from the finish. That's because the SUV that was designed to go 300 km was stuck in customs, so we competed with our 140-km vehicle, which is a low-cost, limited-range SUV," said Schneider.

Jonway's A380 SUV is the springboard for the electric SUV. Said Alex Wang, CEO of Zhejiang Jonway Automobile Co. Ltd., "It looks the same."

Sold in 1.6- and 2.0-L gasoline variants, a 1.8-L version will be added as an A380 engine choice. More than 8000 A380s were sold from May 2009 through March 2010, according to Wang.
The five-door all-electric SUV will use a Jonway-produced chassis and a Zap-supplied electric driveline. The joint venture company, ZAP Hangzhou Electric Vehicle

When market-available in the third quarter of 2010, the SUV with an independent MacPherson front suspension and a double-wishbone rear suspension initially will be sold to fleet and taxi customers in China. It will be the first vehicle produced from the Zap-Jonway joint venture, noted Wang. Co. Ltd., will handle EV integration in China.

The Korea EV Industry Association hosted theEV Eco Challenge & Fair 2010, spotlighting, among other vehicles, a preproduction Zap Alias three-wheeler and a prototype of the five-door Zap-Jonway compact SUV—both all-electrics.

Zap and Samyang Optics also showcased the three-wheeled, two-door Zap Alias at the Korea EV eco-challenge.

For the EV challenge in Korea, the Alias demonstration vehicle relied on lead-acid batteries that are part of a 216-V system. The batteries are fitted underneath the vehicle in a reinforced composite battery box," according to Starr. . Today, all the major engineering work is done, the parts list has been sourced, and we have running prototypes," said Starr.

Schneider said the Alias finished the challenge, recharging batteries at each of the three stations along the way.

"The other three Alias running prototypes will have lithium-ion battery packs," said Starr, "including the vehicle that will participate in the Progressive 

Automotive X Prize shakedown track event at the Michigan International Speedway in May. That vehicle will be driven by Al Unser Jr., a former two-time Indy 500 winner."

Insurance Alias production vehicles will use Li-ion batteries. A 50-kW motor will be used in the base model, and the upgrade model will use a 125-kW motor. 

Samyang Optics Takes Delivery of First ZAP Jonway Electric SUV for Korea Taxi, Fleet Market

July 14, 2010, 9:00 a.m. EDT

SEOUL, South Korea, July 14, 2010 /PRNewswire via COMTEX/ -- Electric vehicle
pioneer ZAP /quotes/comstock/11k!zaap (ZAAP 0.49, -0.01, -1.02%)and Zhejiang
Jonway Automobile Co. Ltd. delivered the first electric taxi produced through their China venture, ZAP Jonway, to Korean distribution partner Samyang Optics (Kospi:008080.KSE). Several new ZAP electric vehicles will be on display at the automotive engineering technology expo EV KOREA July 14-16, 2010 at the Coex exhibition center in Seoul.

Samyang Optics and ZAP Jonway will showcase new electric vehicles (EVs) they are planning for Korea. The ZAP Taxi will be on display, an electric SUV based on the Jonway A380 with an electric drivetrain designed and integrated by ZAP. The Alias will be on display, a futuristic-looking electric car designed by ZAP and finalist for the Progressive Insurance Automotive X PRIZE, a competition of 100MPG or energy
equivalent vehicles with the final taking place July 19-29. ZAPPY3 personal electric transporters will be scooting around the exhibit.

Samyang Optics and ZAP Jonway have formed a business venture to distribute electric vehicles in Korea as part of the government's push to commercialize EVs and capture 10 percent of the global market for zero-emission plug-in cars by 2015 with the target of having all-electric vehicles comprise 10 percent of domestic sales of small-size cars by 2020.

Samyang Optics and ZAP Jonway are the official sponsors of EV KOREA, with
support from the Korean Ministry of Knowledge Economy, Presidential Committee
on Green Growth, Seoul Metropolitan Government, Korea Transport Institute,
Electronics and Telecommunications Research Institute, Korea Electronics
Technology Institute Korea, Automotive Research Institute, Korea Electric Vehicle
Industry Association and others.

EV KOREA was created to harness the growing interest in electric vehicles by
bringing together all the key players in the global EV market. The event is being held concurrently with the New & Renewable Energy and Battery Expo 2010, to create
more synergies and maximize business. EV Korea expects over 100 exhibitors and up
to 25,000 attendees. More information is available at http://www.evkorea.kr.

ZAP is one of the world's oldest and most experienced electric vehicle providers,
having delivered over 117,000 of a broad range of electric vehicles to more than 75 countries since 1994. Additional information is available at http://www.zapworld.com.

Safe Harbor Statement
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.

AutomakerZAP Buying out Chinese Partner

The Zap Alias all-electric sports car has a range of 100 miles per charge, a top speed
of 75 mph, and can go from 0 to 60 mph in 7.8 seconds.

July,8,2010

Automaker ZAP (Zero Air Pollution) announced Thursday it has bought a majority stake in its China-based partner Zhejiang Jonway Automobile, and intends to buy out the rest of the company in the coming year.

The boards of directors for both companies approved a merger agreement on July 2 in which ZAP agreed to acquire 51 percent of Jonway Auto for $29.03 million in cash and the exclusive distribution rights for Jonway cars in exchange for 31.5 million shares of ZAP common stock at $1 per share. The deal also gives ZAP the right to buy out the remaining 49 percent of Zhejiang Jonway Automobile by March 30, 2011,according to ZAP.