SHANGHAI, April 18, 2011 /PRNewswire/ -- Following a recent 51 percent majority acquisition of Zhejiang Jonway Automobile Co. Ltd. of China by ZAP of the United States, the newly formed company ZAP Jonway (OTC BB: ZAAP) will be showcasing two new electric cars anticipated for production later this year at the Auto Shanghai 2011.
The A380e SUV (Sports Utility Vehicle) is projected for production this June and the Alias roadster for September at ZAP Jonway's production facility in Sanmen, China. The company will also reveal plans for two new platforms, a crossover SUV and 7-passenger van.
Auto Shanghai 2011 opens to the public April 21-28 with a Media Preview on April 19-20. Today, Monday, April 18, ZAP Jonway Co-CEO Steve Schneider is scheduled to speak at the 2011 Auto Shanghai Summit during a Panel Discussion "Automobiles and Innovation – New Thought, New Technology, New Energy and New Materials." The panel takes place between 13:30 and 15:00 inside the Shanghai Grand Ballroom of the Kerry Hotel.
With the ZAP Jonway A380 electric SUV and Alias electric car anticipated for production later this year, the Company is exhibiting at Auto Shanghai to reveal its new direction operating as a new automotive company, with new management, a new vision and new automobiles going into production later this year. ZAP Jonway is now the parent company of the majority owned auto factory in Sanmen, China where the company is gearing up to produce electric as well as gasoline SUVs. The factory complex has 3.5 million square feet of factory floor space on 143 acres.
ZAP Jonway plans to market its electric vehicles to niche fleet applications where electricity can be used in commercial and inner city operations like airports, corporate campuses, resorts, motor pools or taxi services. Phase two will leverage ZAP Jonway's existing dealer distribution network throughout China. Later this year ZAP Jonway expects to go into production on the Alias, an innovative electric car designed as an affordable niche urban commuter. It's also a flagship automobile for the new China-U.S. automotive company, showcasing its automotive design capabilities.
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 ZAP's periodic reports filed with the Securities and Exchange Commission.