ZAP(ZAAP), an Electric Vehicle (EV) automotive company incorporated in Californiaand headquartered in Santa Rosa, California, and its subsidiary Jonway Autosigns volume purchase EV contract with Guangzhou WuYang Motors Group, thelargest EV motorcycle group in Southern China. Jonway Auto and GuangzhouWuYang Motors Group (WuYang) jointly designed a new EV model to be completedand ready for production latter part of this year. This new model willtarget markets in Southern China using the broad distribution network thatWuYang has established since 1989. Guangzhou WuYang Group is the joint venturepartner for Honda in China and is one of the top EV motor vehicle companies inChina.
Dueto the strong demand for Jonway Auto’s Urbee EVs in China, coming from variouslarge distributors with well-established dealership networks in China, ZAP andJonway Auto decided to expand into new models of Urbees with new strategicpartners like Guangzhou WuYang, in order to broaden the market distribution,and increase the varieties of models in the market. Guangzhou WuYangcommits to this EV partnership with Jonway Auto by funding the new molds forthe new models using the same chassis. These new models will bemanufactured and produced at Jonway Auto’s factory in Zhejiang and shipped toWuYang’s dealerships.
Thevolume purchase EV contract signed with Guangzhou WuYang Group is targeting forno less than 6000 EVs over the next 12 months, with more than US$20 million inaggregate revenues. This is projected to be averaging 500 EVs per monthand increasing to potentially more than 1,000 per month during the peakseasons, starting latter part of this year when the new models comeonline. The Urbee EV is viewed as an ideal vehicle for transportation inthe suburbs of the major cities, such as Guangdong, where suburban owners coulduse the Urbee EV for commuting, running errands and transporting their childrento and from schools. The Urbee EV can ride in the bicycle lanes, anddrive at a peak speed of 70kph, with a range of over 200km betweencharges.
About ZAP and Jonway Auto
ZAPand Jonway Auto designs and manufactures quality, affordable new energy andelectric vehicles (EVs). Jonway Automobile has ISO 9000 manufacturingfacilities, engineering, sales and customer services facilities in China,Jonway has production capacity of up to 50,000 vehicles per year, and hasestablished sales distribution network in China. ZAP, an early pioneer of EVs,brings to both companies a broad range of EV product technologies. ZAP isheadquartered in Santa Rosa, California and Jonway Auto is located in ZhejiangProvince of the People’s Republic of China. Additional information about ZAPJonway is available at http://www.zapworld.com.