Santa Rosa California based Zap has expanded its relationship with Chinese automaker Zhejiang Jonway Automobile Co. Ltd. to include manufacturing of the Alias electric trike. The Alias is a battery-powered two-seater that Zap has been in developing for several years. At one point, Zap was hoping to build the Alias at a plant in Kentucky but that venture collapsed when funding could not be arranged. Jonway will begin production of the Alias for the Chinese market first, then expand globally.
The Alias is entered in the Automotive X-Prize competition which is kicking off in Michigan this week. Zap claims the Alias can go over 100 miles on a charge of its lithium ion battery and will charge $35,000 for the Alias in the U.S. The shakedown testing starts next week at Michigan International Speedway. Zap will be there, along with 27 other teams that are competing for the $10 million in prize money.
Jonway to Manufacture ZAP's Alias Electric Sports Vehicle in China
SANTA ROSA, Calif., April 29 - Electric transportation pioneer ZAP (OTC Bulletin Board: ZAAP) has contracted Zhejiang Jonway Automobile Co. Ltd. to be the manufacturing partner for its futuristic Alias electric sports car in China.
ZAP and Jonway have agreed to accelerate volume production manufacturing plans following successful debut of a pre-production Alias at the Jonway exhibit at the Beijing Motor Show last week.
ZAP is targeting the electric vehicle market in China and worldwide markets, making Alias one of the first electric sports cars to be produced in China.
Jonway is ZAP's manufacturing partner on a number of different electric vehicle models and Alias is one of latest models included under the strategic commercial agreements signed earlier this year. In addition to the Alias, Jonway is ZAP's manufacturing partner for its SUV electric taxi based on Jonway's A380 SUV and is launching production manufacturing for the China market with volume delivery this year.
"We are very pleased with the positive response and strong interest shown at the Beijing Motor Show," said Jonway CEO Alex Wang.
ZAP is actively seeking support for manufacturing in the U.S. and is engaged in preliminary discussions with state and local government officials regarding possible future sites.
Alias is Put to the Test
ZAP will validate performance specifications of the Alias and showcase its capabilities at the Progressive Insurance Automotive X PRIZE (PIAXP), an international competition for clean, production-capable automobiles capable of 100 MPG and above energy equivalent.
ZAP has designed the Alias to travel at freeway speeds with an estimated range of over 100 miles per charge. One of the pre-production ZAP Alias vehicles will compete in the Shakedown Stage of PIAXP, which takes place next week at Michigan International Speedway. Alias is competing in side-by-side alternative vehicle category. For more information on the X PRIZE event, visit their website at http://www.progressiveautoxprize.org/. Follow the ZAP Alias in the competition at http://zapalias.wordpress.com.
ZAP plans to offer the Alias for US$35,000 and is accepting limited orders for its special edition models. Orders for the Alias can be placed on the website http://www.zapworld.com for a refundable reservation fee of US$1,000.
Jonway is the trade name of Zhejiang Jonway Automobile Co., Ltd., an automobile manufacturer based in Taizhou, Zhejiang, China that currently produces over 10,000 units per year of two SUV models, the A380 3-door and the A380 5-door configurations. Zhejiang Jonway Auto is a subsidiary of Jonway Group, which has been a leader in the manufacturing of motorcycles, ATVs and related products for more than 20 years. In 2009, the Company sold more than 120,000 motorcycles and other vehicles internationally in the European Union and the United States and has a capacity to build up to 400,000 vehicles annually. The Company recently began producing electric motorcycles and related vehicles. Jonway Group and its subsidiaries also produce motor parts, light building materials, air-compressors and plastic components while managing a portfolio of real estate holdings. Jonway Group owns several manufacturing subsidiaries throughout China with a total manufacturing space of 57.3 hectares employing more than 1,000 personnel.
ZAP is one of the world's oldest electric vehicle providers, having delivered over 117,000 of a broad range of vehicles to more than 75 countries since 1994. ZAP supplies electric trucks and vans to military, government and corporate fleets and is an innovator of electric motorcycles, scooters and ATVs. The Santa Rosa, California based company offers some of the only electric city-speed cars and trucks in production today and is leveraging its accrued technology know-how in developing a cost effective high-speed electric car called the ZAP Alias. For further information visit http://www.zapworld.com.
Safe Harbor Statement
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 the ZAP's periodic reports filed with the Securities and Exchange Commission.