This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ZAP Jonway Gets Approval From China National Grid For Battery Swap Version Of E380 SUV





SANTA ROSA, Calif., April 1, 2013 /PRNewswire/ -- ZAP (ZAAP) an automotive company incorporated in California and headquartered in Santa Rosa, California announced that the battery Swap version of the E380 SUV has been approved by China National Grid for its battery swap stations in China, based in Hangzhou, Zhejiang Province.   

(Photo: http://photos.prnewswire.com/prnh/20130401/SF86907-a)

(Photo: http://photos.prnewswire.com/prnh/20130401/SF86907-b

The Battery Swap Version of E380 SUV (Model E380-S) was designed specifically to work with the robotic system used for battery swapping as specified by China National Grid.   The battery packs that are used have been standardized to fit the robotic arm and also the recharging cabinets in the government funded charging stations that are being deployed by China National Grid.   China National Grid (C-NG), the government monopoly that supplies electric power to China has launched extensive programs in selected provinces to support fast battery swapping.   Generally, the swap out and replacement takes no more than 6 minutes to complete.    In order to stimulate the adoption of Electric Vehicles (EVs), C-NG is promoting the sale of EVs without including the cost of the lithium batteries, and the batteries will be leased from C-NG or authorized funding partners.   This business model is being adopted by taxis in Hangzhou, and also by a number of leasing companies that are working in partnership with C-NG.    The vehicles could be leased to owners and paid over a period of several years and the cost of the batteries is financed by C-NG and amortized over that period of time.

ZAP Jonway's E380-S, developed by ZAP Hangzhou Joint Venture was done in collaboration with China National Grid's engineers and is an alternative model to the E380 SUV that was type approved in January 2013.   This E380-S model will undergo type approval in the battery swap configuration.   As a follow on product to the E380, the type approval will take shorter time than the first one and the plan is to complete this by the end of this summer.  The target market will be taxis and leasing companies where fast battery swap-out is needed to give quick turnaround for a "refill".  ZAP Hangzhou JV team is working with a few leasing companies to potentially offer financing to taxis and interested buyers.

The robot and the automated battery swap and recharge station are compact and were designed to easily fit into an existing gas station.    This automated system was designed by C-NG's engineering team, and C-NG plans to make this available for the international markets as well.   By standardizing the removable battery packs that fit with the robot arm, C-NG has simplified the EV designs and thus accelerated the advancement and adoption of EV in the auto industry in China.    ZAP Hangzhou JV's engineers continue to work closely with China National Grid's team to expand the availability of the E380-S and their automated battery swap stations in other major cities in China, and potentially elsewhere in the world.

About ZAP Jonway

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,912.11 -70.48 -0.42%
S&P 500 1,969.95 -8.96 -0.45%
NASDAQ 4,442.6980 -2.2110 -0.05%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs