ZAP Jonway Receives US$12.7 Million In Dealership Financing From China Everbright Bank
ZAP Jonway CFO Benjamin Zhu added: "We are one of the few smaller auto manufacturers to receive this kind of financial support from a large Chinese Bank. We appreciate the support we received from China Everbright Bank and know that this will be a long-term partnership in supporting our dealership network expansion and growth. We have in the past always received upfront direct payment from dealerships. But now with this bank financing credit available to our qualified dealers that have good credit ratings, these dealers can expand their sales and sub-dealership networks, thus supporting their growth."
China Everbright Limited (SEHK: 165) is a financial services company in asset management, direct investment, brokerage and investment banking in the Greater China region, including Mainland China and Hong Kong. It is parented by China Everbright Group, a state-owned enterprise operated under the supervision of the State Council of the People's Republic of China. China Everbright Holding Company Limited was established in Hong Kong in 1983. It then acquired several listed companies and restructured to form China Everbright Limited (SEHK: 165) and China Everbright International Limited (SEHK: 257). China Everbright Limited was listed on the Hong Kong Stock Exchange in 1997.
ZAP Jonway is a pioneer in advanced technology vehicles, combining the attributes of ZAP and Jonway Automobile to design and manufacture quality, affordable gasoline and new energy electric vehicles (EVs). ZAP Jonway is headquartered in Santa Rosa, California and its production facility is located in Zhejiang Province of the People's Republic of China. Additional information about ZAP Jonway is available at http://www.zapworld.com .
The ZAP Jonway logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10607Forward-Looking Statements 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
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