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.

Jim Wunderman, president of the Bay Area Council, called it "a major milestone for the Bay Area's electric vehicle industry".

ZAP earlier this year has acquired a 51 percent stake in Jonway Automobile, a Chinese car and motorcycle manufacturer, in a US $120 million deal approved by the Chinese government in October.

The joint venture, called Zap Jonway is planning to increase production next year, at a 3.6m sq ft plant in China's eastern coastal province of Zhejiang. The purchase also includes 500 Jonway dealerships across the country as fixed assets.

China aims to have 1 million hybrids and EVs on the road by 2015, and is investing North of US $15 billion in the sector until 2020. Although estimates might come too early to be conclusive, global bank HSBC sees China's share of the world's EV market leaping upward from 2.7% this year to 35% by 2020.

ZAP is an electric vehicle company founded in 1994 in Santa Rosa, California. ZAP stands for Zero Air Pollution. The company currently sells 6 EV models. With its new product offerings, the company is positioned to become a leading brand and distributor of advanced technology vehicles. ZAP is committed to running its business based on a strong philosophical foundation that supports the environment, social responsibility and profitability.