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.
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 (
) 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.