ZAP Jonway Announcing New JNZ SHUTTLE Van for International Markets Available 1Q2012

Expands EV and Gasoline Product Line Focused on Fleet Markets

SANTA ROSA, Calif., Dec 16, 2011 (GlobeNewswire via COMTEX) — ZAP Jonway ZAAP -1.89% , a designer and manufacturer of gasoline and new energy electric vehicles (EVs), introduced its JNZ SHUTTLE, a multi-purpose van that can convert from passenger to cargo easily, targeted for the fleet markets and available for the international markets in the first quarter of 2012.

JNZ SHUTTLE Gas or Electric

A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11263

The JNZ SHUTTLE gives ZAP Jonway an attractive platform to compete in the rapidly growing China auto industry for commercial fleet and delivery vehicles. The JNZ SHUTTLE is designed for both full electric and for gasoline and has more than 129 cubic feet of cargo space or with three rows of seats can fit up to seven passengers.

Alex Wang, Co-CEO of ZAP Jonway’s China operation and CEO of Jonway Automobile said, “An important piece of our strategy to attract fleet business is our JNZ SHUTTLE, which is ideal for fixed route deliveries and small passenger payload transportation. In addition, its availability in both gas and full electric models can further broaden our customer base. The competitively priced gasoline version of the JNZ SHUTTLE, which is priced below US$10,000, is targeted for developing countries where smaller shuttle vans with carrying capacities are ideally suited to maneuver through narrow city streets. The all-electric JNZ SHUTTLE is being planned for export globally, focusing initially on first-world countries with active programs to reduce city pollution and carbon footprint. THE JNZ SHUTTLE bolsters ZAP Jonway’s fleet product offering, further expanding our product range in international fleet markets. ZAP Jonway has assigned a separate marketing team to address business-to-business and business-to-government sales opportunities in China and will be ready to launch this product through its new channels in the second quarter of 2012.” ===> CONTINUED