ZAP and Jonway Auto Launches New Model E-3D SUV At Jonway’s Special Dealership Meeting
SANTA ROSA, Calif. (September 30, 2015) - ZAP (ZAAP: OTC) – ZAP and Jonway Auto launches its new model E-3D SUV at its EV product launch dealership meeting held recently with its network of over 50 dealerships nationwide in China. The new E-3D SUV model has been designed specifically to address China’s dense metro city’s EV demands in the face of regulations enforced by the government to limit gasoline vehicle licenses for the densely populated cities. Jonway Auto’s network of nationwide dealers has been pushing for this cost competitive EV SUV to deliver to the market. Additional new regulations are being put in place to levy penalties to auto manufacturers and dealers based on averaged gasoline consumption of all the vehicles sold per year, driving the overall market to seek and promote EV product sales.
The E-3D SUV is an attractively designed 3 door SUV that comfortably accommodates 4 passengers. The model had undergone and passed European crash tests, and ZAP is currently exploring dealership partners to complete the EV type approval for the European overseas market. Potentially in the future, this E-3D SUV competitively priced would also be suitable for the US market after type approval and certification in the US. The E-3D SUV comes in lithium battery version with range of over 200km or 125 miles, and achieves a top speed of 140km per hour or over 85 miles per hour. The lithium version is eligible for China’s central and local government rebates of approximately US$10,000. Price of the EVs competes competitively with the gasoline versions.
Jonway Auto is taking orders now for shipment at the end of the year, as the manufacturing capacity of the Jonway Auto factory is taken up today to meet the large backlog orders of over 11,000 EV minivans from its two strategic partners DongFeng Motor Corporation (http://www.dfmc.com.cn/dfmczg/main_en.aspx) and Holley Metering in China (http://www.meteringchina.com/en/fug/holley.php). DongFeng has indicated that they are seeking to further increase its current orders for next year’s shipment of Jonway’s EV minivans by more than doubling the current backlog. Jonway Auto’s factory would need to add more production lines and would need to invest in additional manufacturing facilities to meet the increased capacity needs in the backlog and scale its production for the anticipated volume.
About ZAP and Jonway Auto
ZAP and Jonway Auto designs and manufactures quality, affordable new energy and electric vehicles (EVs). Jonway Automobile has ISO 9000 manufacturing facilities, certified for EV manufacturing, and engineering, sales and customer services facilities in China. Jonway has production capacity of up to 50,000 vehicles per year, over 1 million square feet of factory space, and over 65 acres of land and established sales distribution network in China. ZAP, an early pioneer of EVs, brings to both companies a broad range of EV product technologies. ZAP is headquartered in Santa Rosa, California and Jonway Auto is located in Zhejiang Province of the People's Republic of China. Additional information about ZAP Jonway is available at http://www.zapworld.com.
This press release contains certain forward-looking statements is defined in the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” and similar expressions that may tend to suggest a future event or outcome are not guarantees of performance, which cannot be predicted or anticipated. These forward-looking statements are based largely on expectations and are subject to a number of risks and uncertainties, many of which are beyond the control of the Company. Actual results could differ materially from these forward-looking statements.
Contact: Michael Ringstad