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.”
ZAP Jonway Announces its First Quarter 2011 Consolidated Results following Completion of the Acquisition of 51% of Jonway Automobile
UPDATE: Hear Scott duPont being interviewed on Santa Rosa’s News/Talk Radio KSRO 1350 AM – Click Here
Film Answers that Question as Electric Cars Start Arriving in California Showrooms
Just as 100% Electric cars start arriving in Northern California showrooms, a timely documentary film “What is the Electric Car?” will have its Santa Rosa Premiere on Thursday, February 17th. The film will screen at 7pm at Summerfield Cinemas.
The movie runs 75 minutes and several of the “star cars” from the film will be in attendance! Several cast members will also be on hand after the film including Santa Rosa resident Ginny Medeiros along with a few of the producers who will do a short Q & A after the special screening. Santa Rosa is the 8th tour stop of the popular film which is touring the country as the producers hope to educate current drivers and dispel common “myths” and misconceptions about electric cars to those including students already driving and to those getting their driver’s license for the 1st time.
The film answers the many questions millions have about the new electric cars. This timely feature film contains insightful interviews with key manufacturers, vendors, drivers & pioneers in the Electric Vehicle (EV) industry predicted to explode over the next 12 months and create thousands of jobs as new cars like the Chevy VOLT and Nissan Leaf join the ZAP EVs arriving in California showrooms this month. Viewers will likely consider these new EVs (which plug into a 110 outlet & don’t use a drop of gasoline or oil), before purchasing their next car. Warren Buffet has quoted: “All cars will be electric in 20 years”.
Many celebrities contributed to this “green themed”, enlightening film including Jay Leno (who let producers in his garage to film his 1908 Baker Electric), Ed Begley, Jr.
(filmed at the ‘Go Green Expo’), and “Baywatch” star and EV activist Alexandra Paul who hosted a behind the scenes chapter for the DVD to be released this spring. Renowned Artist Romero Britto (www.Britto.com) spent 2 months painting the world’s 1st BRITTO TM electric car (a Tango T-600 Commuter Car), and Chábeli Iglesias just signed on to host the film’s Spanish language version of the film which will be available for Latin American and Spanish speaking markets later this year.
The film has already screened in several cities including Miami Beach, Orlando, & West Palm Beach, Florida and most recently in Santa Monica, Hollywood & Santa Barbara, California including a star studded west coast premiere at the famous Egyptian Theatre. Producers are now planning at least 25 more theatrical screenings as well as special educational screenings at elementary and high schools around the state before taking the film back east to New York and then on to Barcelona, Spain.
The film was shot on locations around Michigan, California, Florida, including Jay Leno’s Garage, the Petersen Automotive Museum, the Int’l. Detroit Auto Show & the Henry Ford Museum. The film makers are now doing weekly giveaways (DVDs, t-shirts, etc.) and just today announced another contest from ZAP (one of the film premiere’s sponsors – based in Santa Rosa) to hold its second contest to give away a FREE Electric Car to one of the film’s lucky FaceBook friends! Media inquiries and press requests may contact publicist Bill Hooey at BillHooey@earthlink.net.
- Print Flyer for Santa Rosa Showing – Click Here
- Why we like “What is the Electric Car?” Documentary
- Photos from the Hollywood Premiere
More information contact: Ginny Medeiros, 707-525-8659 x 295 or Alex Campbell, 707-525-8658 x 241
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 firstname.lastname@example.org or ZAP (Jonway) China Jessica Gao, +86 13511038395 email@example.com
SHENZHEN, China, Nov. 4, 2010 /PRNewswire/ — Remy Electric Motors, LLC, has been named the new electric motor supplier to ZAP (OTC Bulletin Board:ZAAP.ob – News). Today ZAP Founder Gary Starr and Remy Electric Motors General Manager Kevin Quinn told an audience of exhibitors and participants at this year’s World Electric Vehicle Symposium and Exposition (EVS) in Shenzhen, China, that the two companies have signed a long term motor supply and development agreement. Remy HVH 250 electric motors will now be used globally in ZAP’s cars and sports utility vehicles. Additionally, ZAP is developing a drivetrain with the Remy motor for use in automotive platforms of ZAP and those of several Chinese vehicles.
U.S.-based ZAP acquired 51 percent of Chinese auto manufacturer Zhejiang Jonway Automobile Company Ltd. this year. This merger has given ZAP access to the Chinese market through Jonway Auto’s distribution channels of more than 80 factory direct dealerships that feed into hundreds of factory authorized dealers. The new supply and development agreement signed by ZAP and Remy provides Remy with a strategic partner in the Chinese electric vehicle market.
Remy’s Kevin Quinn stated, “This new agreement with ZAP recognizes the superior performance and proven reliability of Remy’s electric motors. We are proud to partner with ZAP as they develop global markets with their line of innovative electric vehicles.”
Innovation is a hallmark of ZAP. One of their newest development projects, the Alias electric car, participated this year in the $10 million Progressive Insurance Automotive X PRIZE, a competition for 100 MPG or energy equivalent vehicles. ZAP’s Alias placed among the top seven finalists from the original 115 teams and was recognized as the most practical and the most wanted design in the competition.
ZAP Founder Gary Starr said, “Remy has proven to be a great partner. We are convinced their electric motor is the best on the market. ZAP is continually advancing our products to ensure industry leading performance and reliability. Switching to Remy electric motors for our entire line of vehicles is going to provide our customers with even more power and efficiency. This partnership is definitely a win-win for everyone involved.”
A worldwide audience became acquainted with ZAP’s electric vehicles in 2010 when ZAP’s Electric SUV Taxis were featured during the Shanghai World Fair. ZAP and Jonway Auto shuttled officials and VIPs during the exposition. These same vehicles will now be made available globally using the Remy HVH 250 electric motor.
This is not the first time ZAP and Remy have partnered. Remy Electric Motors joined forces with ZAP in the development of an electric postal delivery vehicle for the United States Postal Service (USPS). This vehicle was chosen as one of the five approved vehicle participants in a year-long trial by the USPS.
Remy’s patented High Voltage Hairpin (HVH) technology’s world-class torque and power density deliver added speed and range to ZAP’s electric vehicles. Brands like AMP Electric Vehicles, GM, Mercedes, BMW, Aptera and Allison Transmission use the Remy HVH electric motor for its superior technology, reliability and the speed to market that come with Remy’s existing global production capacity.
Today, there are more than 80,000 customer-validated Remy motors on the road. With over a billion miles of proven reliability, Remy’s compact HVH electric propulsion motors are power-dense, lab-tested and road-proven. For more details about the HVH250 Series electric motors, visit the Remy website at: http://www.remyinc.com/hvh.asp.
About Remy International, Inc.
Remy International, Inc., headquartered in Pendleton, Indiana, is a leading global manufacturer, remanufacturer and distributor of light duty starters and alternators and Delco Remy brand heavy-duty systems. Remy International also manufactures and distributes electric propulsion motors designed with leading edge technology and backed by the security of over a billion miles of proven reliability. In business for over 100 years, today Remy International is actively collaborating with companies throughout the world to develop innovations that are transforming the vehicle industry. Recently, Remy International was recognized by the United States Department of Energy for its leadership role in the hybrid technologies space and awarded a $60 million grant under the Electric Drive Vehicle Battery and Component Manufacturing Initiative.
To learn more, visit the Remy brand website at www.remyinc.com
ZAP is one of the oldest and most experienced EV providers, having delivered a broad range of over 117,000 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 is one of the few to offer all-electric city-speed cars and trucks that are 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.
To learn more, visit the ZAP website at www.zapworld.com
This material is based upon work supported by the Department of Energy under Award Number DE-EE0002023. This release was prepared as an account of work sponsored by an agency of the United States Government. Neither the United States Government nor any agency thereof, nor any of their employees, makes any warranty, express or implied, or assumes any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, apparatus, product, or process disclosed, or represents that its use would not infringe privately owned rights. Reference herein to any specific commercial product, process, or service by trade name, trademark, manufacturer, or otherwise does not necessarily constitute or imply its endorsement, recommendation, or favoring by the United States Government or any agency thereof. The views and opinions of authors expressed herein do not necessarily state or reflect those of the United States Government or any agency thereof.
Matt Steward, +1-317.270.4898
Alex Campbell, ZAP
+1-707-525-8658 x 241