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China Will Lead Electric Vehicle Sales in Asia Pacific by 2015

October 6, 2011 2 comments
A380 Electric SUV by ZAP Jonway at 2010 Shanghai World Fair

ZAP Jonway A380 EV SUV at 2010 Shanghai World Fair

Across the Asia Pacific region, various national-level initiatives and programs are underway to promote the awareness and adoption of electric vehicles (EVs), including the establishment of aggressive goals, subsidies for EV purchasers, research and development support, tax incentives, and public education programs.  In certain markets, particularly Japan, these efforts have already borne fruit.  Market players in Japan and Korean, however, are concerned about new challengers, mainly driven by competition in China.  The Chinese EV market has critically important implications for global market participants.  According to a recent report from Pike Research, China will be the leading market for EVs in Asia Pacific by 2015. The cleantech market intelligence firm believes that the Chinese market will represent almost half of the region’s total sales by 2015.

“China, where around 55 vendors are developing electrified vehicles or launching EV development programs, will likely create and lead an entirely new category around clean transportation,” says senior analyst Andy Bae.  “The country will become one of the biggest consumer markets for EVs, and global industry players want to enter this market to tap the related opportunities.”

Read more…

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 Completes 51% Acquisition of China’s Jonway Automobile, Cathaya Capital Funds Total of US$36 Million

January 25, 2011 11 comments

New U.S.-China Automaker Aims at Emerging Electric Car Market

SANTA ROSA, California (January 25, 2011) – Electric vehicle market pioneer ZAP (OTC BB: ZAAP) announced today that it has completed its acquisition of 51 percent of the capital stock of Zhejiang Jonway Automobile Co. Ltd. of Sanmen, Zhejiang, China. Cathaya Capital LP has funded the aggregate amount of US$36 million.

White ZAP SUV-style Taxi

The ZAP Jonway Electric Taxi SUV is anticipated for production by June 2011.

The final payment of US$19 million related to the acquisition was made on January 21, 2011 with the funding from Cathaya Capital. Total cash payment for the acquisition of 51 percent of Jonway Automobile was US$30,030,000.

With ZAP’s electric vehicle (EV) technology expertise and international experience, the combined company intends to build the necessary production platform to address the Chinese EV market. The newly combined company, to be renamed ZAP Jonway, will leverage Jonway Auto’s A380 SUV, as well as its established distribution channels to the Chinese market with over 90 direct dealers. ZAP Jonway will manufacture and sell SUVs powered by ZAP’s electric drive train and expects to benefit from the 60,000 RMB (approximately US$9,000) government incentives granted to electric car buyers.

Jonway Automobile anticipates vehicle sales for its gasoline A380 SUV to increase by 40 percent to over 10,000 vehicles in 2011 compared to 2010. In 2009, its first year of sales, Jonway Automobile experienced sales of 4,000 SUVs, which rose to over 7,000 in 2010, each with a sales price of around US$11,000. ZAP Jonway is currently adding to its manufacturing production lines to deliver the A380 EV SUV by the anticipated date of June 2011 and ZAP’s ALIAS EV roadster by September 2011.

The ZAP Alias Electric Car

The Alias is anticipated for production by September 2011.

“Jonway Automobile’s revenues from selling its gasoline vehicles will help build the foundation for ZAP Jonway’s growth in the electric vehicle market, allowing ZAP to focus on further strengthening its EV technology, reinforced by Jonway’s manufacturing production expertise and ready market access to China,” said Dr. Priscilla Lu, founder and general partner of Cathaya Capital, a Cross Border Fund focused on China. Dr. Lu has served as Chairman of the Board for ZAP since September 2009. Cathaya Capital has invested US$36 million in ZAP since September 2009 with the goal of completing this 51 percent acquisition of Jonway Automobile.

Jonway Automobile is ISO 9000 certified with over 3.6 million square feet of fully provisioned factory space on 141 acres of land.

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

China strengthens ties to Zap electric car maker

November 24, 2010 1 comment
By ROBERT DIGITALE
THE PRESS DEMOCRAT
Published: Tuesday, November 23, 2010 at 5:26 p.m.
Santa Rosa’s electric vehicle retailer Zap has signed a memorandum of understanding with Chinese officials to promote electric cars on the streets of Shanghai.

The Santa Rosa Press DemocratThe company separately announced that it has completed a $10 million down payment for a majority share in Chinese car maker Jonway Automotive. The payment is part of a $29 million purchase agreement first announced in July.

The two developments are part of Zap’s efforts to become a manufacturer and retailer of electric vehicles in China, now the world’s largest auto market.

The memorandum is “the first big deal of its kind,” the result of growing ties between business and government leaders from the Bay Area and Shanghai regions, said Jim Wunderman, president and CEO of the Bay Area Council, a business advocacy group. It was fostered in part by a state delegation that Gov. Arnold Schwarzenegger and the Council led to China in September.

The deal, Wunderman said, signals that both Zap and local Chinese officials understand that neither party can by itself build the charging and battery-swap stations needed to make electric vehicles a practical means of transportation in Yangpu, a district of Shanghai.

“Whether you’re building electric vehicles in the Bay Area or China, it’s going to require a public/private partnership to get it done,” Wunderman said.

For the nine months ending Sept. 30, Zap reported a net loss of $7.3 million, compared to $7.5 million a year earlier. The company has posted one profitable year in its 16-year history.

The memorandum, signed last week in San Francisco by Yangpu party secretary Chen Yin, does not give Zap the right to exclusive sales, said Zap Board Chairwoman Priscilla Lu. But in a country where relationships are key, she said, “this signing of the agreement shows his commitment and trust of the company.”

Production of Zap/Jonway electric vehicles is scheduled to begin in China in the second quarter of 2011, she said.

SOURCE: The Santa Rosa Press Democrat

ZAP Website: http://www.zapworld.com

ZAP Provides Update on Jonway Automobile Acquisition

November 18, 2010 Leave a comment

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.

The Logo for Zhejiang Jonway Automobile Co. Ltd.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.

About ZAP

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.

SOURCE: ZAP

ZAP (Jonway) USA
Alex Campbell, +1-707-525-8658 ext. 241
acampbell@zapworld.com
or
ZAP (Jonway) China
Jessica Gao, +86 13511038395
juan.gao@zapworld.com
SANTA ROSA, Calif., Nov 18, 2010 (BUSINESS WIRE) — Electric vehicle pioneer ZAP /quotes/comstock/11k!zaap (ZAAP 0.76, +0.10, +15.50%) 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.

EVS-25 Update: China Leads EV Incentives

November 8, 2010 Leave a comment

 

ZAP Jonway Hostesses on ZAPPY3 electric scooters at EVS-25

ZAP Jonway Hostesses on ZAPPY3 electric scooters at EVS-25, Click Image for Slide Show

FINAL DAY UPDATE: With all the cool EVs in the ZAP Jonway booth during EVS-25, you’ll be surprised to know that the ZAPPY3 three-wheeled scooter/personal transporter was the big hit!  People loved the mobility, looks and fun.  Right behind it was the ZAP DUDE electric ATV.  In fact, there was a line in the booth for people who wanted to get their photo on them.  We definitely scored some major interest in distributing these to many parts of the world. The SUV taxi was not too far behind with people from major automotive suppliers returning to the booth numerous times to show their colleagues.  Some inquired about setting up a taxi service in their municipalities, in China, Russia and the EU. It was also a pleasure to welcome the highest level management of ZAP Jonway to the booth: Board Chair, Priscilla M. Lu, Ph.D., as well as ZAP Jonway Co-CEOs Alex Wang and Steve Schneider who attended several business meetings while in Shenzhen.

Thumbs up for ZAP Jonway at EVS-25

Thumbs up for ZAP Jonway at EVS-25

ZAP Jonway EVS-25 Slide Show – Click Here

We learned a pretty important fact attending some of the presentations at EVS-25 in Shenzhen. China now leads the world in EV government subsidies, with 3,000 yuan per kWh of battery capacity, up to 60,000 yuan per car!! Plus, there are some local governments such as Shanghai and Shenzhen offering an additional 40,000 yuan — that’s 100,000 or about $15,000!! J.D. Power projects that soon 2% of all cars in China to be electric.

There was a great deal of anticipation for the third day of EVS-25 because the Chinese regional delegations would be visiting. Throughout the morning we fielded questions, testing our Chinese language abilities. Again the electric SUV/Taxi played a key role, attracting interest for fleet use as well as taxi use in parts of China. Also there was a great deal of industrial interest for parts and component supply relationships with markets as diverse as Mexico and Hong Kong. It was helpful when ZAP founder Gary Starr showed up to help with many of the technical questions. Have H. David Jones, ZAP’s COO helped respond the growing wave of interest. The general public came in the afternoon, further increasing interest in the ZAPPY3. Also interest in the ZAP DUDE electric ATV from many of the factory workers we met. With interested buyers, we had to continually stress the importance of distribution, service, parts and warranty for expanding the supply and distribution chain, but many still wanted to buy vehicles right on the spot. One woman bought a ZAPPY3 scooter, wanting to make sure she got one with a seat. Later we met some electric vehicle enthusiasts from Europe, some of them inquiring about our fleet XL trucks and Shuttle vans.

ZAP and Jonway Auto Show Lineup at 25th International Electric Vehicle Symposium (EVS-25)

November 5, 2010 6 comments

ZAP Jonway Exhibit at EVS-25 November 5-9 in Shenzhen, China.
ZAP Jonway A380 Electric SUV/TAXI Exhibit at EVS-25

Day 2 Update: People started coming to the booth before the show even began, investment bankers, battery companies, government officials, tech suppliers, service companies, potential distributors, press and people wanting to ride and negotiate a purchase of the ZAPPY3s electric scooters and the ZAP DUDE ATV, with interest in its towing and light fleet applications. Sold a couple too! Parties from Korea, to Latin America, Detroit, Scandinavia, Germany, Eastern Europe — even island nations. Potential suppliers would come up and ask for a tour of the whole booth, asking questions about every detail of the new products, only to find out at the end that they were already familiar with ZAP, were aware the business venture with Jonway and came by the booth to make a deal. One of the employees from the Beijing office took a tour of the exhibit hall on a ZAPPY3 and came back followed by interested buyers. The arrival of ZAP CEO Steve Schneider from the United States was an inspiration to all working in the booth. Keep up the good work, Dario, Miro, Jessica, Lawrence, Dave and everyone.

Flickr Slide Show – Click Here

ZAP Jonway Vehicles on Display at EVS-25 in Shenzhen, China

ZAP Jonway Booth at EVS-25

UPDATE FROM SHOW: ZAP Jonway is showing off some of its most up to date electric vehicles at EVS-25. The ZAPPY3, the ZAPINO, ZAP DUDE electric ATV and the Electric SUV/ Taxi are commanding everyone’s attention. There is a great deal of interest for the Remy motors that we are displaying in the booth. The electric SUV/TAXI has been the focal point for the visitors to our stand. People from Hong Kong and UK are asking for right-hand steering wheels. Technology suppliers have been requesting the opportunity of testing their equipment in the A380. Having a great deal of interest from distributors in many parts of the world for using our ZAP fleet vehicles, Germany, Italy and Australia. A lot of sales interest for the ZAP DUDE. We’ve even noticed engineers from competing companies just couldn’t resist coming over to learn about our vehicles. People are also having fun test riding the ZAPPY3. Enthusiasts and friends of ZAP and Jonway are also visiting to say hello, including Lotus Engineering, Japanese Media, Chinese Media and high level executives from Jonway. We expect an even busier day tomorrow.

SHENZHEN, China (November 4, 2010) – Electric vehicle pioneer ZAP (OTC BB: ZAAP) and Zhejiang Jonway Automobile Co. Ltd. are showing their lineup at the 25th International Electric Vehicle Symposium, EVS-25, November 5-9 in Shenzhen, China.

The 25th International Electric Vehicle Symposium LogoZAP and Jonway Auto have signed an acquisition agreement whereby ZAP would acquire 51 percent majority ownership in Jonway Auto, including their auto assembly facility in Taizhou City, China. By combining Jonway Auto’s manufacturing capabilities with ZAP’s electric vehicle expertise, the two companies are working to combine forces to target the emerging electric vehicle fleet market in China.

ZAP and Jonway Auto are displaying Jonway’s A380 Sports Utility Vehicle (SUV) with an all-electric drive train engineered by ZAP. The vehicle is designed to meet the needs of fixed-route fleet and utility customers in China for corporate and government transportation as well as for taxis and limousines. The two companies will also be showing a new line of lithium battery powered electric motorcycles, new charging stations and other electric vehicles (EVs).

ZAP Jonway electric taxi at EVS-25

ZAP Jonway SUV

The World Electric Vehicle Symposium and Exposition (EVS) series, organized by World Electric Vehicle Association (WEVA), is recognized as the premier event for academic, government and industry professionals involved in electric drive technologies. For more information, visit http://www.evs25.org.

About ZAP

ZAP is one of the oldest and most experienced EV 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. ZAP is also developing a freeway capable electric vehicle called the Alias. Further news and information is available at https://zapglobal.wordpress.com.

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.

CONTACTS:

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

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

Earth2Tech’s Green Overdrive Visits ZAP Electric Vehicles

August 27, 2010 2 comments
Al Unser Jr. being interviewed at ZAP by Earth2Tech's Katie Fahrenbacher

Al Unser Jr. being interviewed at ZAP by Earth2Tech

A video production team from Earth2Tech Media’s Green Overdrive came out to ZAP on Monday to test drive our latest vehicles and meet ZAP Alias XPRIZE driver Al Unser Junior.  Katie Fehrenbacher and Chris Albrecht also caught up with ZAP CEO Steve Schneider and Founder Gary Starr.

Fehrenbacher acknowledged that ZAP is one of the oldest electric vehicle companies out there and asked Starr about ZAP’s initial approach.  Starr said ZAP started in 1994 by focusing on affordable electric vehicles, introducing electric bicycles, scooters, ATVs, trucks, then eventually cars.  During the segment Fehrenbacher has some fun on ZAP’s smallest EV, the wheel motor driven ZAPPY3 electric scooter.

ZAP also presented its new project with China’s Jonway Auto, an all electric SUV project launched a year ago.  Fehrenbacher brought up ZAP’s recent acquisition agreement to acquire a majority share in Jonway Auto with the right to acquire the rest by next year.  They went for a drive at freeway speeds in the ZAP Jonway all electric A380, a test drive eerily reminiscent of a video taken in December 2009.  Fehrenbacher asked how fast the electric SUV goes and ZAP engineer Joe Rajakaruna pointed out that they have never focused on top speeds, because for ZAP’s target market the focus is to comfortably travel freeway speeds, and indeed at minute 2:30 in the video Fehrenbacher estimates they easily reach 60 MPH.  The ZAP Jonway electric A380 is the official electric vehicle of the U.S. Pavilion at the World Fair in Shanghai.

Steve Schneider, Chief Executive Officer of ZAP

Steve Schneider

Later Fehrenbacher caught up with CEO Steve Schneider, touching on media reports critical of ZAP’s “failures” in delivering electric vehicles, a question that completely ignores the fact that ZAP has delivered over 117,000 of a broad range of electric vehicles from bikes, to scooters, to trucks.

Q: Katie Fehrenbacher: You talk a little bit about being misconstrued as a marketing company and a little bit about some of ZAP’s failures – SS: Mis-categorized — in being able to scale up manufacturing wise and I think there’s been a variety of dates missed on commercial productions that’s been widely reported…”

A: Steve Schneider: And I don’t think if you looked at any other auto manufacturer that is introducing a vehicle, that the dates that we targeted, (and we’re not a manufacturer; we had the contracts but we had third parties to deal with besides ourselves, but I don’t think you could come up with a manufacturer that hasn’t come out with a product that has missed their target date and had control of their manufacturing), we never had control of our manufacturing, so we always gave the target dates that our contract manufacturers had given to us.  And so, because of those things and missing those target dates, we focused very heavily in the last 18 months to have our own manufacturing capacity so that we can control that.  We still might miss a target date like everyone else, but at least we’re in control of it, we were not in control of it before.

Despite the inquiry on ZAP’s ability to deliver electric vehicles, there is no mention in Green Overdrive’s video of its most popular EV currently, the ZAP XL electric truck.  ZAP recently sold a small fleet of electric trucks to the City of Riverside.  Likewise, there was no mention of ZAP’s engineering contract with the U.S. Postal Service to convert one of its Long Life Vehicles to run on electricity. Obviously there is much more going on at ZAP than you can cover in a 5 minute video.  You can watch a 30 minute tour of ZAP by Steve Schneider on YouTube that covers the XL truck and USPS contract.

Al Unser Jr. with the ZAP Alias electric car

Al Unser Jr. with the ZAP Alias electric car

Finally, Fehrenbacher interviewed Al Unser Jr., two-time winner of the Indy 500 and co-driver for the ZAP Alias team entered in the Progressive Insurance Automotive X PRIZE.

Katie Fehrenbacher: So you’re doing this partly for environmental reasons, becoming a do-gooder after a lifetime of driving race cars.

Al Unser Jr.: I’m doing this mainly to develop the automobile in the area of alternative fuels and getting away from the addiction to the petroleum products.

KF: What do you think of it compared to a gas based car?

AU: I loved it , the major difference first and foremost is how quiet it is; there’s just no sound coming out of it. And it’s instant power, I noticed that the torque is very high on it, when you drive the car, it drives just like a regular car, except again for how quiet it is, it’s just super quiet.

KF: You think that’s a good thing, you don’t miss the big, booming engines?

AU: Not at all.

Learn more about the ZAP Alias Team entered in the Progressive Insurance Automotive X PRIZE on their Team Blog.

See more at Earth2Tech’s Green Overdrive.

30min Video Tour of ZAP in Santa Rosa, California with CEO Steve Schneider

July 18, 2010 2 comments

A delegation of Japanese business people came to ZAP in early June from Usami Co., a chain of gas stations throughout Japan. This is part 1 of a 3 part series about what’s happening at ZAP with special clips of the Volkswagen, Worldcar, Smart Car, Sam Cree and Xebra with shots of our CEO talking about his background and how he joined up with ZAP. The tour includes our dealer showroom in downtown Santa Rosa. Thankz for watching!

Samyang Optics Takes Delivery of First ZAP Jonway Electric SUV for Korea Taxi, Fleet Market

July 14, 2010 2 comments

ZAP Electric Taxi Answers Korea EV Challenge

Samyang Optics took delivery of the first ZAP Jonway electric SUV.

SEOUL, South Korea, July 14, 2010  — Electric vehicle pioneer ZAP (OTC Bulletin Board:ZAAP.obNews) and Zhejiang Jonway Automobile Co. Ltd. delivered the first electric taxi produced through their China venture, ZAP Jonway, to Korean distribution partner Samyang Optics (Kospi: 008080.KSE).  Several new ZAP electric vehicles will be on display at the automotive engineering technology expo EV KOREA July 14-16, 2010 at the Coex exhibition center in Seoul.

Samyang Optics and ZAP Jonway will showcase new electric vehicles (EVs) they are planning for Korea. The ZAP Taxi will be on display, an electric SUV based on the Jonway A380 with an electric drivetrain designed and integrated by ZAP. The Alias will be on display, a futuristic-looking electric car designed by ZAP and finalist for the Progressive Insurance Automotive X PRIZE, a competition of 100MPG or energy equivalent vehicles with the final taking place July 19-29.  ZAPPY3 personal electric transporters will be scooting around the exhibit.

Samyang Optics and ZAP Jonway have formed a business venture to distribute electric vehicles in Korea as part of the government’s push to commercialize EVs and capture 10 percent of the global market for zero-emission plug-in cars by 2015 with the target of having all-electric vehicles comprise 10 percent of domestic sales of small-size cars by 2020.

Samyang Optics and ZAP Jonway are the official sponsors of EV KOREA, with support from the Korean Ministry of Knowledge Economy, Presidential Committee on Green Growth, Seoul Metropolitan Government, Korea Transport Institute, Electronics and Telecommunications Research Institute, Korea Electronics Technology Institute Korea, Automotive Research Institute, Korea Electric Vehicle Industry Association and others.

EV KOREA was created to harness the growing interest in electric vehicles by bringing together all the key players in the global EV market.  The event is being held concurrently with the New & Renewable Energy and Battery Expo 2010, to create more synergies and maximize business.  EV Korea expects over 100 exhibitors and up to 25,000 attendees.  More information is available at http://www.evkorea.kr.

ZAP is one of the world’s oldest and most experienced electric vehicle providers, having delivered over 117,000 of a broad range of electric vehicles to more than 75 countries since 1994. Additional information is available at http://www.zapworld.com.

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:

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

USA Media
Pat Meier-Johnson
+1 415-717-9677
patmeier@patmeier.com

International Media
Ron Theis
+1 248-644-3330
rlt@theis.com

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