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ZAP Jonway Announces Extension of US$19 Million Convertible Note
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===>
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
ZAP Jonway Plans Limited Edition of ALIAS for Production Fourth Quarter 2012
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
ZAP Jonway Appoints 20-Year Chinese Automotive Veteran Zhang Da Qi as General Manager of Jonway Auto/Operations and Sales
FAW Sales Veteran Strengthens Strategic International Sales Efforts
SANTA ROSA, Calif., Nov. 1, 2011 (GLOBE NEWSWIRE) — ZAP Jonway (OTCBB:ZAAP.OB – News), a designer and manufacturer of gasoline and new energy electric vehicles (EVs), appointed Zhang Da Qi as General Manager of Jonway Auto/Operations and Sales. In this role, he will focus on strengthening the company’s marketing and sales organization and its supporting operations. Mr. Zhang reports directly to co-Chief Executive Officer, Wang “Alex” Gang.
Alex Wang, co-Chief Executive Officer of ZAP Jonway, stated: “Zhang brings over 20 years of automotive management experience. He spent fifteen years, working with general manager responsibilities, in one of the automotive divisions of First Auto Works (FAW), ranked third largest in China. He has a proven track record in building up a strong sales team that delivered several tens of thousands of vehicles per year. He also led the sales team during the formative years at Zotye Auto, a private automobile company based in Hangzhou, where he was instrumental in building up sales from scratch in a short couple of years’ time and delivered over 30,000 vehicles per year.”
More at ZAPJONWAY.COM
ZAP Jonway Co-CEO to Talk Electric Cars at Global Automotive Forum in Chengdu, China October 12
CHENGDU (October 7, 2011) – Steve Schneider, Co-CEO for automotive pioneer ZAP Jonway (OTC BB: ZAAP), is scheduled to speak at the Global Automotive Forum, October 11-12 in Chengdu, Southwest China as part of an auto show and business forum covering relevant issues and challenges facing the industry today.
The Global Automotive Forum (GAF) has already established itself as one of the leading forums for the automotive industry. The theme for the 2011 forum is: “From Volume Leader to Innovation Leader.” This is Schneider’s second appearance at the Global Automotive Forum, now in its second year. ZAP Jonway is displaying its latest A380 SUV models during the concurrent Chengdu Motor Show. Schneider has more than 30 years experience in the automotive industry. Read more…
ZAP Jonway Appoints Tony Nie, Formerly of Lotus Engineering, as Vice President of Strategic Business Development
SANTA ROSA, Calif.–(BUSINESS WIRE)– Electric vehicle pioneer ZAP Jonway (OTC BB:ZAAP.ob – News) 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.
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.
ZAP Jonway Adds to Finance Team, Leo Shan as Deputy CFO of Jonway Auto
SANTA ROSA, Calif.–(BUSINESS WIRE)– Electric car pioneer ZAP Jonway (OTC BB:ZAAP.ob – News) and its majority owned subsidiary Jonway Automobile added another member to its finance team following the appointment of Benjamin Zhu as Chief Financial Officer last week. Leo Shan Yongqiang has joined as Deputy CFO effective March 1, 2011 and will assume responsibility of Jonway Automobile in China as part of Benjamin Zhu’s global finance team.
Since 2008, Leo Shan was deputy finance director for Chery Automobile, a leading maker of passenger cars in China. He was also CFO for Chery’s international joint ventures, overseeing finances for Chery’s overseas subsidiaries, including investments in Russia, Brazil, Uruguay, Malaysia, Ukraine, Kazakhstan and Iran. Prior to this he was finance controller in China from 2006 to 2008 for German publisher Wolters Kluer Information & Technology Co., a leading global information services and publishing company. He also served as Senior Auditor from 2003 to 2006 at Price Waterhouse Coopers in Beijing.
“Leo Shan comes with extensive international finance experience and will be helping us manage our international global partnerships and expansions in joint ventures with companies in many countries around the world,” said Mr. Zhu.
“Benjamin Zhu and Leo Shan strengthen the executive finance management team of ZAP Jonway and bring in-depth knowledge of the automobile space as well as broad international market relationships,” said Dr. Priscilla Lu, Chairwoman of ZAP Jonway.
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 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
ZAP Jonway Appoints New CFO, Benjamin Zhu Li Dong, Former Deputy CFO of Beijing Auto, Foton
SANTA ROSA, Calif., Feb. 28, 2011 /PRNewswire/ — Electric car pioneer ZAP (OTC Bulletin Board:ZAAP.ob – News), headquartered in Santa Rosa, California, and its majority owned subsidiary Jonway Automobile, are pleased to announce the appointment of Benjamin Zhu (Zhu Li Dong) as the Chief Financial Officer of ZAP and Jonway Automobile. Benjamin Zhu joins ZAP and Jonway Automobile March 1st, 2011. William Hartman, current CFO of ZAP will complete the year-end 2010 audits and the consolidated report of ZAP and Jonway Automobile for 1Q2011, while Benjamin Zhu and his team take over 2Q2011.
William Hartman was CFO of ZAP for 10 years and will stay on as financial controller for ZAP USA.
Since 2009 Benjamin Zhu has served as deputy CFO of Beijing Auto, Foton, one of the largest automobile companies in China, with reported yearly sales volumes of over 700,000 units. He led the group’s operational finance, cost control and overseas partnerships and investments. Prior to this, he served as CFO of Ready Medicine Group, one of the largest medicine distribution and retailing companies with revenues of over 6 billion RMB. As CFO he led mergers and acquisitions and oversaw the IPO of the company in the United States in 2008. He was also the CFO of Chery Auto Group, China’s largest passenger car automaker with reported sales volume of over 680,000 passenger sedans annually. From 2007 to 2008, as CFO he led the IPO of Chery Automobile in China. Prior to this, Mr. Zhu was Audit Manager at Deloitte & Touche and then at Price Waterhouse Coopers for nine consecutive years.
“We welcome Benjamin Zhu as Chief Financial Officer of ZAP Jonway,” said Dr. Priscilla Lu, Chairman of ZAP Jonway and General Partner of Cathaya Capital. “We are bringing a new team of management executives on board to lead the growth of the new, combined ZAP Jonway. Mr. Zhu brings to our company tier one Chinese automobile finance management experience. His extensive international experience will help reinforce our financial growth, and his strong auditor background will help exert the required discipline in financial control, leveraging the knowledge from when he was audit manager at Deloitte and Price Waterhouse.”
“Mr. Zhu’s international finance management experience will help bridge the gap between China and our international team,” said Steve Schneider, Co-CEO of ZAP Jonway. “This is the beginning of an extensive realignment of our management team. While this realignment may be challenging in the short term, it is necessary for the long-term success of our company. Our new company with its new Jonway Automobile revenue base and growth targets requires a new set of leadership to transform ZAP from being technology innovators to world class manufacturers. With Jonway Automobile as part of our ZAP family, and reinforced by executives of top tier caliber like Benjamin Zhu, we can move forward with confidence to grow our business. We are pleased and proud to have him on board.”
“We are pleased and excited to have Benjamin Zhu join our team,” said Alex Wang, Co-CEO of ZAP. “Jonway Automobile is entering the next stage of growth both on the technology front with electric vehicles, as well as entry into international markets. Benjamin Zhu with his strong financial background and global experience will be a vital leader in our team during this growth stage.”
William Hartman, current CFO of ZAP will be supporting this transition through the second quarter of 2011, while Benjamin Zhu and his team take over the financial management for the entire combined company starting in the second quarter. Mr. Hartman will remain as the Corporate Secretary of the Company and operate as financial controller within Benjamin Zhu’s team for ZAP USA.
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 ZAP’s periodic reports filed with the Securities and Exchange Commission.
Documentary “What is the Electric Car?” Santa Rosa Showing Feb. 17
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 ZAP Alias electric car.
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.
More:
- 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
Documentary Debuts in Santa Rosa Feb. 17
Editorial: State can’t unlink its future from China’s
This editorial appeared in the Sacramento Bee in December, but we reprint it here to offer insight into ZAP’s electric vehicle strategy in China over the past 13 years.
With all the irritations between the United States and China, it is worth noting some opportunities for “competitive cooperation.”
Representatives from Wells Fargo, Deloitte & Touche, and the Bay Area Council helped dedicate the MOU signing between ZAP, Jonway and Yangup.
The latest agreements signed this month between the United States and China should make U.S. businesses more competitive in selling everything from industrial machinery and telecom devices to equipment for large-scale wind farms.
California, particularly, is poised in coming years to benefit from the exchange – if we can get past the usual China-bashing that is a staple of the election campaign season.
For example, companies that participate in the construction of wind farms will now be able to participate in projects to install wind farms in China. Until now, they were not able to participate because their non-Chinese experience could not be used for qualification as a bidder on a China-based project. The new commitment by China will allow those companies to gain access.
California companies with wind farm construction experience could benefit from this new commitment by China.
And as Jennifer Turner of the Wilson Center has said, in many cases, combining the strengths of innovative U.S. technologies and Chinese manufacturing capacity can be an important driver of economic growth and jobs here and in China.
But we have to be looking for commonalities and opportunities. For example, California and China are earthquake prone. China’s going to need to build 30,000 hospitals in the next 10 years. California has a lot of health care companies and a lot of experience building hospitals to meet earthquake standards. That is an exportable skill set.
ZAP Founder showing electric motorcycle to Chen Yin, Party Secretary from Shanghai
The power, transportation, water and building materials sectors look particularly promising for California in forging unusual cross-border partnerships with China.
Here is one small example. California has many of the leading companies and innovators in the electric-vehicle industry.
Santa Rosa-based ZAP Electric Vehicles announced an agreement during Gov. Arnold Schwarzenegger’s September trade mission to China whereby new plug-in vehicle technologies designed in California, combined with China-based manufacturing, will allow ZAP to provide electric charging stations, battery swap-out stations, as well as electric vehicle maintenance and repair depots in Shanghai’s Yangpu District.
Irvine-based Fisker Automotive has signed an agreement with a Chinese retailer to sell its sports luxury plug-in hybrid cars at 200 outlets in China.
Of the five biggest solar plants in China, infrastructure (such as polysilicon production equipment, crystalline ingot growth systems and fusion furnaces) comes from the United States, creating jobs here. Certainly, manufacturing solar panels in China creates jobs in China. But jobs also are created here at the project location.
Consider wind turbines. Designed here. Some components manufactured here, some in China. Assembled in China. Pylons built here. Installation here. Power generation here. Both sides get jobs.
The picture is much more complex than the “shipping jobs to China” slogan we hear every election season. If we embrace the concept of “cooperative competition” – even as we continue as a nation to seek enforceable agreements against pirating, protectionism and manipulated currency in China – we can take advantage of our strengths to make economic progress during this time of difficult economic transition.
© Copyright The Sacramento Bee. All rights reserved.
Read more: http://www.sacbee.com/2010/12/27/3282500/state-cant-unlink-its-future-from.html#ixzz1A5OQl2Yz
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