Jonway Group Funds $18.2 Million to ZAP Jonway to Bring 2012 New Products to Production: ALIAS and JNZ Shuttle – Gas and Electric
SANTA ROSA, Calif., Dec. 19, 2011 (GLOBE NEWSWIRE) — ZAP Jonway (OTCBB:ZAAP.OB – News), 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.
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 gasoline 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
SANTA ROSA, Calif., Dec. 16, 2011 (GLOBE NEWSWIRE) — ZAP Jonway (OTCBB:ZAAP.OB), a designer and manufacturer of new energy and electric vehicles (EVs), plans production of the ALIAS, ZAP’s highly anticipated sports EV, in the fourth quarter of 2012.
This limited edition production is now planned due to popular demand. It will showcase the engineering excellence of the ZAP Jonway’s EV power train and design. This 3-wheel version of the Alias is designed to be highway safety compliant and yet be able to expedite the long type approval testing process for entering into the U.S. market. Designed with decades of electric and automotive experience, the ALIAS serves a growing niche of automotive enthusiasts who want an affordable electric vehicle with the performance, looks and handling of an impressive sports car. The vehicle has a peak torque of over 200 kilowatts and range of 150 miles between charges. With one of the best engineered EV motors available supplied by Remy Motors, compact and light weight, the vehicle’s performance, handling and ride is competitive with traditional Tier One sports vehicles. ==> Continued Click Here
Focusing on New Energy Efficient Vehicles, Gasoline and Full Electric, Utilizing Common Platforms
SANTA ROSA, California – November 15, 2011 – ZAP Jonway (OTC BB: ZAAP), a designer and manufacturer of gasoline and new energy electric vehicles (EVs), after extensive strategic planning and integration development, announced its joint product roadmap for 2012. The roadmap is focused on delivering affordable and technologically competitive new gasoline and EV models that address the growing market demand.
Dr. Priscilla Lu, Chairman of ZAP Jonway, stated: “The new ZAP Jonway models planned for delivery in 2012 maximize the strengths of both subsidiaries, ZAP and Jonway Auto. The new models utilize the experience base and the combined resources from both subsidiaries to accelerate the new EV models’ time to market, while maintaining the originally planned introduction of Jonway’s new gasoline models to the market in 2012. The new JNZ product line is designed to address EV platform requirements while remaining adaptable to either gasoline or an electric power train.”
Date: 1:30 PM PDT, May 25, 2011
Audio Webcast – Click Here
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.
ZAP Jonway Announces its First Quarter 2011 Consolidated Results following Completion of the Acquisition of 51% of Jonway Automobile
We enter an historic time with real, mainstream electric cars poised to come to market. Still, there seems to be a great deal of confusion and controversy around them, which is one reason why we like the new documentary premiering in Hollywood on December 14, “What is the Electric Car?” but not the only reason.
NEW! – Slide Show from Premiere
We really like “What is the Electric Car?” because our very own Ginny is one of the stars of the film. Yes, THE Virginia (Ginny) Scales-Medeiros, mother of two, entrepreneur, inventor, auto maven and electric car proponent extraordinaire.
The story of how Ginny earned a role in the documentary “What is the Electric Car?” is somewhat ironic. Ginny is perhaps the most outgoing, gregarious person we work with, and the perfect person to help represent ZAP for its Detroit Auto Show debut. 2010 was the very first year that Detroit’s North American International Auto Show (NAIAS) hosted a display dedicated to electric cars called “Electric Avenue.” ZAP was invited to display its Alias electric car in Detroit as part of the lead-up to the Progressive Insurance Automotive X PRIZE.
Now, working an auto show is tough, but Detroit is a doozy, running for two weeks. We were confident in Ginny though, and naturally she came out a champ, fielding inquiries for ZAP, helping make valuable connections and introducing ZAP to Motor City. It was during the show that we met up with Scott duPont, Cam MacGregor, and Ken Grant, producers from the documentary “What is the Electric Car?” walking around the show gathering material for the up-coming film. He came by the X PRIZE booth and arranged an interview with ZAP executive Eric Peterson who also appears in the documentary. He gave them a quick update on the company and the ZAP Alias and they were off to meet with other electric car experts and we thought that was the end of it.
Little did we know, the producers were on a quest to find “real electric car owners.” There were a host of people representing electric cars at the Detroit Auto Show, but only a very few who actually owned one and used it on a daily basis. Leave it to Ginny to find this out, not on the show floor, but during the complimentary continental breakfast at the Holiday Inn, Detroit.
According to Ginny, she remembers walking out of the elevator still wearing her pajamas and feeling embarrassed when she noticed Scott duPont wearing his usual smart, show-biz attire. She was eating breakfast and it was somewhat busy, but she overheard duPont saying he was looking for someone who actually drives an electric car, and being Ginny, she spoke up immediately.
“I drive an electric car,” she interjected.
You probably had to be there, but she laughs when she remembers the look the producers gave her.
“They looked at me in my pajamas like I just got out of bed with this expression, as if to say, ‘Yeah, right.’ They must have thought I was one of those groupies who will say anything to get a part in a movie.”
“You mean you’ve driven one?” duPont asked.
“‘No, I have nothing else but an electric car.’ I could tell they were skeptical at first. But I told them my whole story.”
Ginny told the producers all about how she started driving an electric car. She was just winding down from promoting her own product and was offered a job by ZAP’s CEO Steve Schneider who had worked with her in the past and had known her for over 20 years. In 2007, she started checking out the Xebra truck and tried a lease on one from ZAP. She was also driving a Mercedes S Class, but quickly realized she could save a lot of money by driving electric while meeting 95% of her daily driving, putting 600-800 miles per month in it. She also checked out PG&E’s E-9 Meter Program for electric car owners, which helps her get a discount on her utility bill. One of the perks of having the E-9 meter is that she is charged a lower rate during off peak hours and she estimates saving $100 or more a month on her overall utility bill. Subtract that from her lease and insurance, she estimates the Xebra is only costing her about $20 a month with the savings from the E-9 program. The insurance is so much less because the Xebra is classified as a low-speed motorcycle. She realized she could rent a gas car if she needed to take an extended trip, but even if she rented a car three times a month, it was still cheaper than the Mercedes, which she estimates was costing about $1,000 a month.
“This has become my main message to people about switching to an electric car,” says Ginny. “It’s fun helping people learn about electric cars and I also educate businesses when I drive around Santa Rosa and ask to plug in. People say, ‘How much is that going to cost me?’ When I reply, ‘Maybe 15 cents,’ they do a double-take, but when I show them how my old Mercedes was costing me $1,000 per month and a ZAP Xebra only $20 a month, they really start to get it. Also, I tell people that they don’t have to wait for electric cars; there are many affordable electric vehicles already on the market. That’s my main message.”
At this point, duPont was probably realizing that he had found what he was looking for, and an even rarer breed at that, someone that only drove an electric car. He asked for photos and video of Ginny with her electric car. He asked if he could see copies of her PG&E utility bill and information about the E-9 meter. He asked if he came to visit, would she show him her electric car.
Recently we learned that Ginny has a prominent role in the film, which includes some 50 electric car owners with their stories. With the film due to premier in Hollywood next week, Ginny is excited that she will be appearing, partly from a personal standpoint in educating people about electric transportation, but also because it helps ZAP.
“I’m proud to be a part of ZAP. I love living a simple, healthy lifestyle and ZAP has helped me accomplish this. I love being an entrepreneur, educating people about a better way to drive and making a difference for society. Working for ZAP let’s me do all that, and drive electric cars. It’s fun!”
One of our employees, Jeff Gettys, caught the preview screening last month and said it was great. The rest of us are looking forward to seeing it, not to mention Ginny, who is planning on attending the Hollywood Premier on Tuesday, December 14, 2010 at the Historic Lloyd E. Rigler Theatre at the Egyptian at 6712 Hollywood Blvd. Ginny hasn’t stopped there. Now, she is talking to the producers about holding a showing of “What is the Electric Car?” in ZAP’s home town of Santa Rosa. Stay tuned, and please support the wonderful makers of the documentary by visiting the Official Website at http://www.whatistheelectriccar.com/ for ticket and DVD sales.
And don’t forget. If you use Facebook, you can enter to win a 100% electric car that will be given away December 14 simply when you ‘Like’ the Fan Page for “What is the electric car?”
SANTA ROSA, Calif., Nov 18, 2010 (BUSINESS WIRE) — Electric vehicle pioneer ZAP (Stock Symbol: ZAAP) completed its initial down payment of US$10 million towards the 51% acquisition of Jonway Automobile. Jonway Automobile plans to complete an audit of its financial statements by December 31, 2010 and thereafter, ZAP intends to finalize the acquisition with the payment of the US$19 million balance of the US$29 million purchase price.
Jonway Automobile reported sales of over 4,000 gasoline vehicles through the end of September 2010, and projects total sales of over 6,500 vehicles by December 31, 2010. Jonway Automobile reported that wholesale sales prices of the vehicles averaged US$10,000. Jonway Automobile projects year-end revenues for 2010 to increase more than 40% compared to last year with its current gasoline vehicle product line. Jonway Automobile reports that it is debt-free, cash flow positive and able to finance its gasoline product revenue growth at the same rate for 2011.
Under the new equity structure, Jonway Automobile will be 51% owned by ZAP, and 49% by its original parent Jonway Group. This equity ownership transfer was approved by the Chinese government on October 3, 2010. Jonway Automobile plans to ramp up production of the A380 SUV electric vehicle (EV) in the first half of 2011 together with ZAP’s Alias EV by third quarter 2011 at their Sanmen, Zhejiang factory. By combining Jonway Auto’s ISO 9000 manufacturing facilities, capable of delivering over 50,000 vehicles per year, with ZAP’s EV technologies, products and expertise, the company aims to lead the emerging EV fleet market in China.
Alex Wang (Wang Gang) was recently appointed by ZAP’s board to be Co-CEO of ZAP. ZAP (Jonway) will expand the market to sell both gasoline and EVs from China to rest of the world.
ZAP (Jonway) recently showcased its EV product line at the 25th Electric Vehicle Symposium in Shenzhen to launch its EV sales in China targeting volume production delivery by the first half of 2011.
Focused on delivering quality products, Jonway started to sell its A380 SUV product line last year, offering quality and value incorporating a Mitsubishi power train. ZAP (Jonway) plan to enhance manufacturing facilities to produce electric vehicles in Jonway’s 3.6 million square feet of factory facilities on the 141 acres of land in Sanmen, Zhejiang Province, China.
ZAP is one of the oldest EV companies with extensive industry experience in EV product design and conversions. ZAP 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. The Santa Rosa, California based company offers a product line of all electric trucks, vans, sedans and motorcycles in production today. ZAP news and information is available at https://zapglobal.wordpress.com.
About Jonway Automobile
Zhejiang Jonway Automobile Co. Ltd. (Jonway Automobile), headquartered in Sanmen, Zhejiang Province, manufactures, markets and sells SUVs in China with over 90 direct dealers all over China. Their SUV has been type approved for sale in Europe. Jonway Group holds the automobile license and granted irrevocable right for SUV manufacturing to Jonway Automobile. Jonway’s factory, with production capacity of 50,000 vehicles per year, opened in 2009 and is ISO9000 certified with factory space of over 3.6 million square feet on 141 acres of land in Sanmen, Zhejiang Province, 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.
ZAP (Jonway) USA Alex Campbell, +1-707-525-8658 ext. 241 email@example.com or ZAP (Jonway) China Jessica Gao, +86 13511038395 firstname.lastname@example.org