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ZAP Jonway Announces Extension of US$19 Million Convertible Note

December 29, 2011 1 comment

SANTA ROSA, Calif., Dec. 29, 2011 (GLOBE NEWSWIRE) — ZAP (OTCBB:ZAAP), also known as ZAP Jonway, a designer and manufacturer of electric vehicles (EVs), announced ZAP and China Electric Vehicle Corporation, or CEVC, an entity affiliated with Cathaya Capital, have agreed to extend the maturity date of the US$19 million convertible note held by CEVC until August 12, 2012.

Dr. Priscilla Lu, Chairman of ZAP and General Partner of Cathaya Capital, stated: “We are pleased with ZAP Jonway’s progress on its new EV model rollout planned for the first half of 2012. The ZAP and Jonway teams are working very well together with the common goal of executing on our new model rollout plan and delivering revenue from our next generation models. This extension gives the company time to achieve its 2012 deliverables and results.” CONTINUED===>

Jonway Group Funds $18.2 Million to ZAP Jonway to Bring 2012 New Products to Production: ALIAS and JNZ Shuttle – Gas and Electric

December 19, 2011 1 comment

SANTA ROSA, Calif., Dec. 19, 2011 (GLOBE NEWSWIRE) — ZAP Jonway (OTCBB:ZAAP.OBNews), a designer and manufacturer of new energy and electric vehicles (EVs), entered a funding agreement with Jonway Group CO. Ltd., to pay for a total of $18.2 million for the already completed interior and exterior design and molding of the JNZ SHUTTLE Van; the completed engineering design, type approval certification and catalogue license of the gasoline transmission of the JNZ SHUTTLE Van; and the ALIAS interior and exterior design and molding, which is underway.

The JNZ ALIAS, a Motorcycle class electric vehicle (EV)Alex Wang, Co-CEO of ZAP Jonway’s China operation, CEO of Jonway Automobile, and a Director of Jonway Group, stated: “Jonway Group, the original holding company of Jonway Automobile is committed to delivering industry leading full electric new energy vehicles to the market, utilizing the strengths of Jonway Automobile’s manufacturing with ZAP’s EV technology experience and design. We believed in the market potential of the JNZ SHUTTLE Vans and started this design more than a year ago in Jonway Group, funded by the holding company of Jonway Automobile, while ZAP Jonway evaluates the market potential of this new product line. After doing more extensive market research, ZAP Jonway believes the JNZ SHUTTLE Van for both EV and The JNZ SHUTTLE Cargo/Passenger Van comes in Gas or Electric Powergasoline models have great commercial opportunities, especially in addressing our new strategy focused on the fleet applications. Jonway Group has been paying for the engineering design and molding for the JNZ SHUTTLE Van and will also pay for the ALIAS to go into production within 2012. These two project funding totals more than $18.2 million. The JNZ SHUTTLE Van engineering and molding work is already completed, and the ALIAS work is being completed. Jonway Group stepped in to fund this capital intensive development to ensure the delivery of these new models into production for 2012. The JNZ SHUTTLE Van is ready for production delivery in the second quarter of 2012, and the ALIAS is planned for the fourth quarter of 2012. We are pleased with the progress and the quality of the work done for these models, and we are committed in Jonway Group to support the financing to ensure that we are well positioned to offer competitive and attractive products.” ===> CONTINUED

ZAP Jonway to Report Third Quarter 2011 Results on November 15, 2011

November 10, 2011 1 comment

SANTA ROSA, Calif., Nov 10, 2011 (BUSINESS WIRE) — ZAP Jonway (OTC BB: ZAAP), a manufacturer of gasoline and new energy electric vehicles (EVs), announced it will hold a conference call at 1:30 p.m. PT/4:30 p.m. ET on November 15, 2011 (5:30 a.m. November 16)(5:2011 in China) to discuss its third quarter 2011 earnings results.

Investors in the United States may participate in the call by dialing (877) 280-7473, and international participants may dial (1-707) 287-9370. The conference ID is 25418272 and participants are encouraged to dial 10 minutes prior to the call to prevent a delay in joining. A live webcast of the conference call is scheduled to be available on ZAP Jonway’s corporate site at http://www.zapworld.com/Investors .

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ZAP Jonway Secures Up to US$16.33 Million in Bank Lines, Outlines Expansion Strategy

September 15, 2011 2 comments

SANTA ROSA, California (September 15, 2011) – Zhejiang Jonway Automobile Co., Ltd. (“Jonway Automobile”), a majority-owned subsidiary of ZAP Jonway (OTC BB: ZAAP), a growing manufacturer of electric vehicles, announced today that it is approved for two credit facilities for a total of $16.33 million in available credit. These credit facilities will be used to support the company’s expansion plans, with emphasis on its electric vehicle production line facilities in China. The credit will also help advance new electric vehicle initiatives, launch new strategic global sales and marketing operations, bolster infrastructure, and finance working capital.

Jonway Automobile, a Sanmen, China based manufacturer of the 3 and 5-door A380 SUV, entered into a Credit Granting Agreement with the Taizhou Branch of China Merchants Bank for a revolving credit line in the aggregate amount of RMB21 million (US$3.28 million) from a total of RMB40 million (US$6.25 million) that is available through China Merchants Bank. Additionally, Jonway Automobile was also approved for a credit line in the aggregate amount of RMB64.5 million (US$10.08 million) from the Taizhou Branch of Everbright Bank of China. Both credit facilities when drawn down will be secured by lands owned by Jonway Automobile and guaranteed by Jonway Group, headquartered in Taizhou. ZAP Jonway is a supplier of all-electric vehicles (EVs) to the military, government and corporations and an early pioneer of electric motorcycles, scooters and ATVs. Read more…

Webcast and Transcript – ZAP Jonway 1Q2011 Financial Results Conference Call

May 25, 2011 1 comment
Dr. Priscilla M. Lu, the Chairman of the Board for ZAP

ZAP Board Chair, Dr. Priscilla M. Lu

Date: 1:30 PM PDT, May 25, 2011

Audio WebcastClick Here

Presenters

Priscilla Lu, Ph.D, Chairman

Steve Schneider, Co-CEO USA

Alex Wang, Co-CEO China

Benjamin Zhu, CFO

Priscilla Lu: Good afternoon ladies and gentlemen; greetings to everyone in the other time zones. Welcome to ZAP’s 1Q2011 Earnings Call.  We plan to be doing these quarterly earnings calls on a regular basis from now on.

I am Dr. Priscilla Lu, the Chairman of ZAP.  With me are Steve Schneider, Co-CEO of ZAP Jonway, Alex Wang, Co-CEO of ZAP Jonway for the Jonway Automobile manufacturing and sales in China, and Benjamin Zhu, our CFO for ZAP Jonway.  I will start with the Safe Harbor Statement, Forward-Looking Statement that we will proceed to read.

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ZAP Jonway Announces its First Quarter 2011 Consolidated Results following Completion of the Acquisition of 51% of Jonway Automobile

May 24, 2011 1 comment
SANTA ROSA, California (May 23, 2011) — ZAP Jonway (OTC BB: ZAAP) recently filed its Form 10-Q for the quarterly period ended March 31, 2011, which included consolidated financial results for the first time taking into account ZAP’s acquisition of 51% of the equity shares of Zhejiang Jonway Automobile Co. Ltd., or Jonway Automobile, located in Sanmen, Zhejiang, China, in January 2011. We refer to this transaction as the Jonway Acquisition.  The Jonway Acquisition was the result of a yearlong effort by both parties.  Jonway Automobile is an ISO 9000 production-ready automobile manufacturer in China with facilities that were installed in 2009. Through the Jonway Acquisition, ZAP has been able to gain access to a cost-competitive production team in China with manufacturing expertise and access to China’s growing Read more…

ZAP Jonway to Hold Annual Meeting of Shareholders on June 20, 2011

SANTA ROSA, Calif.–(BUSINESS WIRE)–Electric vehicle pioneer ZAP (OTC BB: ZAAP) is moving its previously announced June 15, 2011 annual meeting of shareholders (the “Annual Meeting”) to June 20, 2011 and will hold the Annual Meeting at the Hyatt Residency San Francisco Airport at 1333 Bayshore Highway, Burlingame, CA 94010. Shareholders of record at the close of business on April 25, 2011, the record date, will be entitled to notice of and to vote at the Annual Meeting. The Company will mail and provide access to its definitive proxy materials to its shareholders prior to the Annual Meeting.

About ZAP Jonway

On January 21, 2011, ZAP completed its acquisition of 51% of the equity shares of Zhejiang Jonway Automobile Co. Ltd. Together, ZAP Jonway combines ZAP’s 16 year experience in electric vehicle design and Jonway’s volume automobile manufacturing in China. ZAP Jonway supplies electric trucks and vans to the military, government and corporate fleets and is one of the early pioneers of electric motorcycles, scooters and ATVs. ZAP Jonway offers a product line of all-electric trucks, vans, sedans, and motorcycles in production today. ZAP Jonway news and information is available at http://www.zapworld.com.

Contacts

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

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