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TheStreet Open House

ZAP Provides Update On Jonway Automobile Acquisition

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.

About ZAP

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 http://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.



Copyright Business Wire 2010
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