SANTA ROSA, Calif.,
Aug. 4, 2014 /PRNewswire/ -- ZAP
(ZAAP), an Electric Vehicle (EV) automotive company incorporated in
California and headquartered in
Santa Rosa, California, and its
subsidiary Jonway Auto signs volume purchase EV contract with
Guangzhou WuYang Motors Group, the largest EV motorcycle
group in Southern China. Jonway Auto and Guangzhou WuYang
Motors Group (WuYang) jointly designed a new EV model to be
completed and ready for production latter part of this year.
This new model will target markets in Southern China using the broad distribution
network that WuYang has established since 1989. Guangzhou WuYang
Group is the joint venture partner for Honda in China and is one of the top EV motor vehicle
companies in China.
Due to the strong demand for Jonway Auto's Urbee EVs in
China, coming from various large
distributors with well-established dealership networks in
China, ZAP and Jonway Auto decided
to expand into new models of Urbees with new strategic partners
like Guangzhou WuYang, in order to broaden the market distribution,
and increase the varieties of models in the market. Guangzhou
WuYang commits to this EV partnership with Jonway Auto by funding
the new molds for the new models using the same chassis.
These new models will be manufactured and produced at Jonway Auto's
factory in Zhejiang and shipped to
WuYang's dealerships.
The volume purchase EV contract signed with Guangzhou WuYang
Group is targeting for no less than 6000 EVs over the next 12
months, with more than US$20 million
in aggregate revenues. This is projected to be averaging 500
EVs per month and increasing to potentially more than 1,000 per
month during the peak seasons, starting latter part of this year
when the new models come online. The Urbee EV is viewed as an
ideal vehicle for transportation in the suburbs of the major
cities, such as Guangdong, where
suburban owners could use the Urbee EV for commuting, running
errands and transporting their children to and from schools.
The Urbee EV can ride in the bicycle lanes, and drive at a peak
speed of 70kph, with a range of over 200km between
charges.
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, engineering, sales and customer
services facilities in China,
Jonway has production capacity of up to 50,000 vehicles per year,
and has 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
Mringstad@zapworld.com
707-525-8658x104
SOURCE ZAP and Jonway Auto