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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===>

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

December 18, 2011 Leave a comment
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 electric or gasoline cargo or passenger van
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.

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A380e Electric SUV Prototype Sparks Interest at ASEAN 2011 in Nanning, China

October 22, 2011 1 comment
The A380e 5-door Electric SUV

Potential auto distributors from throughout Southeast Asia wanted a closer look at the ZAP Jonway A380e electric SUV prototype at ASEAN 2011 in Nanning, China

Learn more at ZAP Jonway News

 

Celebrating its 17th Anniversary, ZAP Jonway Positions Itself for Future

September 23, 2011 6 comments

SANTA ROSA, California (September 23, 2011) – Today electric vehicle pioneer ZAP Jonway (OTC BB: ZAAP) celebrates its 17th Anniversary in the industry. ZAP’s majority acquisition of Chinese automobile manufacturer Zhejiang Jonway Automobile Co. Ltd. earlier this year (which resulted in the corporation formally doing business as ZAP Jonway), the additions of several new executives, and other structural changes have the company freshly focused in a new direction and prepared for future growth.

Engineering & High-Quality, Volume Manufacturing

The acquisition of Zhejiang Jonway Automobile in January was the first in a series of major positive structural changes for ZAP Jonway, including new management, new vehicles, new technologies, streamlining US operations, and a new overall direction.

Log for ZAP Jonway“We couldn’t be more pleased with all the beneficial changes we’ve made in the last nine months,” says Alex Wang, Co-CEO of ZAP Jonway. “Now that Jonway and ZAP are operating as one entity, we can leverage the expertise of our Californian sales, marketing and engineering teams, and combine it with the high-quality, volume manufacturing of our China manufacturing facility, making us uniquely poised to become the market leader in practical commercial and consumer electric vehicles.” Read more…

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…

ZAP Jonway Appoints Tony Nie, Formerly of Lotus Engineering, as Vice President of Strategic Business Development

June 1, 2011 1 comment

SANTA ROSA, Calif.–(BUSINESS WIRE)– Electric vehicle pioneer ZAP Jonway (OTC BB:ZAAP.obNews) appointed To

ny (Tianxin) Nie as Vice President of Strategic Business Development overseeing strategic partnerships and key client relationships in China and Asia, as well as General Manager of ZAP Hangzhou Joint Venture, which will be the electric vehicle technical center for ZAP Jonway in China.

Portrait of Tony (Tianxin) Nie, Vice President of Business Development for ZAP Jonway

Tony (Tianxin) Nie

Mr. Nie was formerly Director of Sales & Marketing of Lotus in China as well as Lotus Engineering’s leader and founding member for China. He has been with Lotus since 2005, overseeing business development, sales, engineering developments, marketing and public relations in China. A citizen of the People’s Republic of China, he earned a Masters Degree in International Marketing Management from Leeds University Business School in 2003 and his Bachelor of Science Degree in Mechanical Engineering from Beijing Textile Engineering University in 1994.

Responsible for establishing Lotus Engineering in China, Mr. Nie worked on a number of technology projects and engineering designs, including hybrid vehicles, electric vehicles (EVs) with range extensions, as well as pure EV designs. He has managed more than 20 different chassis design projects; three engine projects, an

d 15 technology engineering projects. This involved a broad range of products and projects in electric and hybrid vehicle technologies, whole vehicle designs, power-train designs, chassis engineering, energy flow management strategies, vehicle control technologies and vehicle testing processes.

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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…