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ZAP Begins Project Development on Green City Partnership with Shanghai’s Yangpu District
ZAP signed an MOU agreement with the government of Shanghai's Yangpu District on November 19th in San Francisco to provide electric vehicles for public transportation while installing charging and battery swap-out stations. The project was formed during a Bay Area Council trade mission to Shanghai in September. Click for Slide Show.
SANTA ROSA, Calif. (December 17, 2010) – Electric car pioneer ZAP (OTC BB: ZAAP) this week began project planning with the government of Shanghai’s Yangpu District to develop a Green City Zone in Yangpu’s downtown area, a university and research hub that is home to 1.24 million people. Based on an MOU partnership agreement signed in San Francisco on November 19, 2010, the project plans to reduce carbon emissions in Yangpu using electric vehicles (EVs) for its public transportation while installing an EV charging infrastructure, battery swap-out stations and maintenance support centers.
The partnership agreement with Yangpu government is a direct result of Governor Schwarzenegger’s trade delegation to Shanghai in September this year, sponsored by the Bay Area Council, and is one of the first formal initiatives between the two regions.
Party Secretary Chen Yin attended the signing ceremony in San Francisco on November 19, 2010. At the ceremony, Party Secretary Chen said that improving air quality, “green” urban mobility and development of clean energy infrastructure are some of the key initiatives of Yangpu in the next few years. He indicated that this agreement shows the beginning of growing ties between two of the world’s leading technology innovation centers, Yangpu and the Bay Area, especially in the development of clean technology. Within the 24 square mile district of Yangpu there are 14 universities surrounding the Knowledge Innovation Center (KIC), a technology community that includes Fudan University and Tongji University, making this area one of the leading research centers in China on Clean Tech.
“New plug-in vehicle technologies from ZAP, together with Jonway’s cost effective manufacturing in China, will accelerate the implementation of our Green Project with Yangpu. This truly bridges the best aspects of both the US and China, leveraging the strengths of the technological innovation in the Bay Area and Yangpu,” said ZAP CEO Steve Schneider.
According to the framework of the partnership, ZAP will provide an electric car charging infrastructure, battery swap out stations, as well as EV maintenance and repair depots in Yangpu. ZAP will work with Yangpu’s government agencies, local universities, and private corporations on plans to further expand zero-emission transportation in the city.
“We have just started the initial planning of this long term project. The hard work of implementation and operations is ahead of us. We believe that the project planning and resourcing will be a yearlong process. We are pleased to be part of Yangpu’s Green Project and share Party Secretary Chen Yin’s vision and commitment to delivering his objectives,” says ZAP Chairman Dr. Priscilla Lu.
To execute these plans and better access the Chinese market, ZAP Jonway will open its EV sales and operations office in the Yangpu District and plans to establish its research and development engineering center in the district to take advantage of the university communities.
About ZAP
Based in Santa Rosa, ZAP has been a pioneer in the electric vehicle industry since 1994, engaging in the design, development, commercialization and distribution of 100% pure electric vehicles and power systems, and delivering a wide range of vehicle designs to consumers and fleet customers in the United States and international markets for sixteen years. The company supplies electric trucks and vans to military, government and corporate fleets and offers personal transportation products including electric motorcycles, scooters, ATVs and some of the only electric city-speed vehicles in production today. ZAP is also developing a freeway capable electric vehicle called the ZAP Alias that was a finalist in the Progressive Insurance Automotive X PRIZE.
About Jonway
Jonway is the trade name of Zhejiang Jonway Automobile Co., Ltd., an automobile manufacturer based in Taizhou, Zhejiang, China that currently produces several thousand units per year of two SUV models, the A380 3-door and the A380 5-door. Built in 2009, Jonway’s modern 3.6 million square foot factory on 141 acres is ISO9000 certified and has the capacity to produce up to 30,000 units per year. It employs over 800 workers and distributes its vehicles in China through 80 factory direct dealers and hundreds of factory authorized dealers. Jonway Auto is a subsidiary of Jonway Group, which has been a leader in the manufacturing of motorcycles, ATVs and related products for more than 20 years.
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.
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CONTACT:
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
China strengthens ties to Zap electric car maker
THE PRESS DEMOCRAT
The 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 Jonway CEO Joins Bay Area Council to Strengthen Regional Ties with China
SANTA ROSA, Calif. (September 3, 2010) – Steven Schneider, Chief Executive Officer for ZAP Jonway (OTC BB: ZAAP), is the newest member of the Bay Area Council and will provide strategic support in electric vehicles and other key areas that can help strengthen the region’s economic ties with China.
Steve Schneider, CEO of auto and EV maker ZAP Jonway, has joined the Bay Area Council to provide his business expertise on China.
ZAP Jonway is a new US-China automotive venture. Northern California’s publicly owned ZAP signed an acquisition agreement with Zhejiang Jonway Automobile Co. Ltd. for a 51 percent stake in the China automobile manufacturing company. Schneider and ZAP Jonway plan to host a trade mission from the Bay Area Council on Saturday, September 11, 2010 at the ZAP Jonway manufacturing facility in Hangzhou, China. Governor Arnold Schwarzenegger is expected to participate in the trade mission.
“Electric vehicles represent a key challenge and opportunity for the US and China,” said Schneider. “By collaborating through the Bay Area Council, we can ensure the success of electric transportation as a green initiative while strengthening our friendship with China’s growing auto industry.”
The Bay Area Council is a member organization comprised of CEOs and business leaders committed to ensuring the Bay Area’s future in innovative, competitiveness and sustainability. They do this by developing an ambitious vision for the region’s future with participation of business, government, labor, science and education. Results are achieved through advocacy and committed leadership to realize this vision.
The Bay Area Council (http://www.bayareacouncil.org) opened an office in June 2010 in the Yangpu District of Shanghai to help Bay Area businesses expand into the Chinese market, while working to attract Chinese businesses and investment here. The Bay Area Council has also held major conferences in China on venture capital and green technology while hosting and sending senior delegations to 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.
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Contact:
Alex Campbell, ZAP
+1-707-525-8658 x 241
acampbell@zapworld.com
Bay Area Council
Joe Arellano, VP Communications
+1-415-946-8725
jarellano@bayareacouncil.org
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