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Webcast and Transcript – ZAP Jonway 1Q2011 Financial Results Conference Call

May 25, 2011 1 comment
Dr. Priscilla M. Lu, the Chairman of the Board for ZAP

ZAP Board Chair, Dr. Priscilla M. Lu

Date: 1:30 PM PDT, May 25, 2011

Audio WebcastClick Here

Presenters

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.

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…

PODCAST: KQED Public Radio Interviews ZAP Execs

January 27, 2011 2 comments

The KQED News LogoKQED Radio’s Rachael Myrow visited ZAP in December for a series they are doing as part of their California Report, called “Shifting Gears.”  She interviewed ZAP’s founder Gary Starr as well as ZAP Chairwoman Dr. Priscilla Lu in a piece called “California: EV Designer for the World.” The two ZAP executives offered incite into ZAP’s plans in China, including plans for acquiring Zhejiang Jonway Automobile Co. Ltd., which was announced yesterday. Tune into the podcast and view the slide show on KQED’s website.

Source: KQED News

See Also: ZAP Completes 51% Acquisition of Jonway Automobile of China, Cathaya Capital Funds a Total of US$36 Million

ZAP Begins Project Development on Green City Partnership with Shanghai’s Yangpu District

December 17, 2010 2 comments
ZAP Jonway Signs MOU with Yangpu District Government of Shanghai

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.

# # #

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

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

Cathaya Invests $11 Million in ZAP for Jonway Acquisition

July 13, 2010 Leave a comment

SANTA ROSA, California (July 12, 2010) – Cathaya Capital, L.P. is investing US$11 million in ZAP (OTC BB: ZAAP) to finance the 51 percent majority interest acquisition of Zhejiang Jonway Automobile Co. Ltd. upon final closing of the transaction. The new company combines ZAP’s 15 years electric vehicle experience with Jonway’s ISO 9000 quality auto manufacturing capabilities to accelerate electric car production while opening new markets in China’s growing auto industry.

Dr. Priscilla M. Lu, the Chairman of the Board for ZAP

ZAP Board Chair, Dr. Priscilla M. Lu

Cathaya invested in ZAP last year with the objective of realizing this opportunity.  Since then ZAP has been focused on developing electric vehicle (EV) products for the partnership with Jonway, and also in finalizing this acquisition. Cathaya Capital is a cross border fund aimed at accelerating growth opportunities in China by combining international companies with technologies or global market presence to enhance the competitive edge of high growth potential Chinese companies. It is founded and managed by Dr. Priscilla Lu, a 30-year international technology and manufacturing veteran who now serves as Chairman of the Board of ZAP.

“Together these two companies with their complementary strengths form a new company reinforced by EV technology, mass production manufacturing skills, a strong sales presence in China, and access to international markets,” said Dr. Priscilla Lu. “The new team is focused on delivering revenues and profits while expanding international market presence with quality products aimed at addressing new market demands for alternative energy vehicles. We are pleased with China’s commitment to reduce pollution and the incentives being put in place that encourage adoption of EVs.  With our new company ZAP Jonway, we are well positioned to address this stimulated market.”

China has resolved to continue the retooling of China’s industries to reduce pollution, according to a July 4 New York Times article. China’s goal is to reduce carbon emissions by 40 to 45 percent in 2020 compared with 2005.  China’s rapidly growing economy has ambitious plans to control pollution and invest in energy efficient technologies like EVs.

About Cathaya Capital, L.P.
Cathaya Capital, L.P. is a cross border fund focused on investing in technology based growth opportunities in China by combining international companies that bring technologies or could give global market presence to high growth potential Chinese companies. The fund works with the ventures to leverage complementary strengths to create global companies with market strengths in China, matching international companies with technology or global market access.

Forward-Looking 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 the Company’s products, increased levels of competition for the Company, new products and technological changes, the Company’s dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company’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

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

Corporate
Alex Wang
+86 13968699888
wg@jonway.com

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

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