China Government Approves ZAP Acquisition of Majority Stake in Jonway Auto

SANTA ROSA, Calif. and ZHEJIANG, China (September 16, 2010) – The Commerce Department of Zhejiang Province in China has approved ZAP’s (OTC BB: ZAAP) proposed acquisition of a 51 percent equity interest in Zhejiang Jonway Automobile Co. Limited. 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.

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

ZAP intends to capitalize on the growing automotive and electric vehicle (EV) market in China through the proposed acquisition of a majority stake in Zhejiang Jonway Automobile Co. Limited.  ZAP is a 16-year-old company located in California with expertise in EV design, while Zhejiang Jonway Automobile Co. Limited is a manufacturing subsidiary of Jonway Group, a 20-year-old vehicle manufacturer in China.

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.

Contact:

Alex Campbell
ZAP Jonway USA
+1-707-525-8658 x 241
acampbell@zapworld.com

Jessica Gao
ZAP Jonway China
+86 13511038395
juan.gao@zapworld.com

MEDIA ADVISORY: ZAP Jonway Alias Electric Car on Display in Washington, D.C. Today

 

ZAP Jonway Alias Electric Car last night in Washington D.C.

100+ MPGe Electric Car in Progressive Insurance Automotive X PRIZE Awards Ceremony Followed by Presentation to U.S Department of Energy Secretary Steven Chu 

WASHINGTON, D.C. (September 16, 2010) The Alias electric car from ZAP Jonway (OTC BB: ZAAP) will be participating in two events in Washington, D.C. on Thursday, September 16, 2010.  From 10:30 AM – 12:00 PM, the Alias will be featured as a finalist in the Progressive Insurance Automotive X PRIZE Awards Ceremony at the Historical Society of Washington D.C.  From 2:15 to 2:45 PM the Alias will be presented to U.S. Department of Energy Secretary Steven Chu.

EVENT 1       PROGRESSIVE INSURANCE AUTOMOTIVE X PRIZE CELEBRATION & AWARDS CEREMONY

WHEN:           10:30 AM – 12:00 PM, Thursday, September 16, 2010

WHO:             ZAP Jonway Alias Team Members as well as officials and other teams competing in the Progressive Insurance Automotive X PRIZE

WHERE:        Historical Society of Washington, D.C., 801 K Street NW at Mount Vernon Square, Washington, DC

WHY:              Alias is one of nine finalists for the $10 Million Progressive Insurance Automotive X PRIZE for 100 MPGe cars

EVENT 2   U.S. DEPARTMENT OF ENERGY PRESENTATION

WHEN:          2:15-2:45 PM (may extend until approximately 3:30), Thursday, September 16, 2010

WHO:             Photo and Interview Opportunity with U.S. DOE Secretary Steven Chu

                         ZAP Jonway Alias Team Members, X PRIZE Officials

WHERE:        US Department of Energy, 1000 Independence Ave. SW, Washington, D.C.

INFO:             ZAP Jonway Contact: Alex Campbell, acampbell@zapworld.com 

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AutoSohu Interview with ZAP Jonway Co-CEO Steve Schneider at 2010 Global Automotive Forum

ZAP Jonway Co-CEO Steve Schneider was interviewed by AutoSohu at 2010 Global Automotive Forum. In the video he is asked about Chinese policies towards alternative fueled vehicles and said that electric vehicles would be favored because of their potential to reduce carbon emissions.

Samyang Optics Takes Delivery of First Alias Electric Car from ZAP Jonway

ZAP Jonway sells first Alias electric car to Samyang Optics of Korea

SANTA ROSA, Calif.–(BUSINESS WIRE)–The first Alias electric car from industry pioneer ZAP Jonway (OTCBB:ZAAP – News) has been sold to distribution partner Samyang Optics (Kospi: 008080.KSE) of Korea.

Samyang Optics has taken delivery of a red Alias that first appeared at National Automobile Dealers Association Expo in New Orleans. The same Alias debuted to the public earlier this year at the Korea EV Challenge, sponsored by Samyang Optics.

Samyang Optics and ZAP Jonway have formed a business venture to introduce electric vehicles (EVs) to Korea. The government’s goal is to commercialize EVs and capture 10 percent of the global market by 2015. Korea wants EVs to comprise 10 percent of domestic small car sales by 2020.

More on ZAP Alias Electric Car Blog ===>

VIDEO: ZAP Founder on the Alias Electric Car and XPRIZE

The Zap Alias won the on-line poll for the most attractive car, but this car is far more than just a pretty face. An efficient and quick three-wheeled side-by-side, this electric vehicle carries a 32 kWh advanced lithium-ion phosphate battery made by one of the largest BEV manufacturers in the US, yet it still weighed in at a modest 2733 pounds. This car showed innovation in both its design and execution, yielding excellent performance and efficiency. Class: Alternative Side by Side No. of wheels: Three Passengers: Two Drive type: Battery electric, front-wheel-drive Battery type: 32 kwh, lithium-ion Charging: 110v or 220v Thankz for the great video, XPRIZE! Watch more videos at the XPRIZE Foundation YouTube Channel.

See More on ZAP Alias Electric Car Blog:

ZAP Electric Truck and Van Qualify for Federal Tax Credit

The ZAP XL electric truck qualifies for a ten percent tax credit from the federal government.

SANTA ROSA, Calif., Sept. 7 /PRNewswire/ — An electric truck and van produced by ZAP Jonway (OTC Bulletin Board:ZAAP.ob – News) qualify for a ten percent federal tax credit, up to a maximum of $2,500.

The Internal Revenue Service (IRS) has determined that the ZAPTRUCK XL and ZAPVAN Shuttle qualify under the American Recovery and Reinvestment Act for a ten percent tax credit up to a maximum of $2,500, if purchased after February 17, 2009 and before January 1, 2012 under Internal Revenue Code Section 30.

Links

• IRS Letter for XL and Shuttle Tax Credit Qualification
• IRS Letter for XEBRA Tax Credit Certification

“These tax credits make our ZAP electric trucks and vans even more affordable to operate,” said ZAP CEO Steve Schneider. “Combined with lower fueling and maintenance costs, which can be a third of conventional cars, this can be a great incentive for our customers to integrate electric vehicle technology into their fleets.”

ZAP's electric shuttle van qualifies for a ten percent federal tax credit.

ZAP’s electric trucks and vans are ideal for fixed route deliveries, utility and material handling applications.  Recently ZAP sold a small fleet to the City of Riverside in California.  ZAP has also sold vehicles to the U.S. Government, Military, Fortune 500 companies, universities, municipalities and small business owners. ZAP fleet vehicles can achieve the equivalent of over 100 miles per gallon, at a cost of about two cents per mile, and are much more economical in price and fuel consumption than conventional vehicles.

Customers should consult with their tax advisor for guidance on their specific tax situation to determine to what extent they will benefit from this tax credit. The IRS has developed the Form 8834 Qualified Plug-In Electric Vehicle Credit, which will be required to file with the Federal Tax Return that covers the date the vehicle was purchased. A copy of the form is available at http://www.irs.gov/pub/irs-pdf/f8834.pdf.

About ZAP

ZAP is one of the world’s oldest and most experienced electric vehicle providers, having delivered over 117,000 of a broad range of vehicles to more than 75 countries since 1994. ZAP supplies electric trucks and vans to military, government and corporate fleets and is an innovator of electric motorcycles, scooters and ATVs. The Santa Rosa, California based company offers some of the only electric city-speed cars and trucks in production today and is leveraging its accrued technology know-how in developing a cost effective high-speed electric car called the ZAP Alias. Further news and information is available at https://zapglobal.wordpress.com.

Contact:

Alex Campbell
ZAP Public Relations
707-525-8658 x 241
acampbell@zapworld.com

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

SANTA ROSA, Calif. (September 3, 2010) – 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.

Steve Schneider, CEO of auto and EV maker ZAP Jonway, has joined the Bay Area Council to provide his business expertise on 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.

“Electric vehicles represent a key challenge and opportunity for the US and China,” said Schneider. “By collaborating through the Bay Area Council, we can ensure the success of electric transportation as a green initiative while strengthening our friendship with China’s growing auto industry.”

The Bay Area Council is a member organization comprised of CEOs and business leaders committed to ensuring the Bay Area’s future in innovative, competitiveness and sustainability.  They do this by developing an ambitious vision for the region’s future with participation of business, government, labor, science and education.  Results are achieved through advocacy and committed leadership to realize this vision.

The Bay Area Council (http://www.bayareacouncil.org) opened an office in June 2010 in the Yangpu District of Shanghai to help Bay Area businesses expand into the Chinese market, while working to attract Chinese businesses and investment here.  The Bay Area Council has also held major conferences in China on venture capital and green technology while hosting and sending senior delegations to China.

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.

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Contact:

Alex Campbell, ZAP
+1-707-525-8658 x 241
acampbell@zapworld.com

Bay Area Council
Joe Arellano, VP Communications
+1-415-946-8725
jarellano@bayareacouncil.org