SANTA ROSA, Calif., Dec. 16, 2011 (GLOBE NEWSWIRE) -- ZAP Jonway (OTC BB: ZAAP), a designer and manufacturer of gasoline and new energy electric vehicles (EVs), introduced its JNZ SHUTTLE, a multi-purpose van that can convert from passenger to cargo easily, targeted for the fleet markets and available for the international markets in the first quarter of 2012.
A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11263
The JNZ SHUTTLE gives ZAP Jonway an attractive platform to compete in the rapidly growing China auto industry for commercial fleet and delivery vehicles. The JNZ SHUTTLE is designed for both full electric and for gasoline and has more than 129 cubic feet of cargo space or with three rows of seats can fit up to seven passengers.
Alex Wang, Co-CEO of ZAP Jonway's China operation and CEO of Jonway Automobile said, "An important piece of our strategy to attract fleet business is our JNZ SHUTTLE, which is ideal for fixed route deliveries and small passenger payload transportation. In addition, its availability in both gas and full electric models can further broaden our customer base. The competitively priced gasoline version of the JNZ SHUTTLE, which is priced below US$10,000, is targeted for developing countries where smaller shuttle vans with carrying capacities are ideally suited to maneuver through narrow city streets. The all-electric JNZ SHUTTLE is being planned for export globally, focusing initially on first-world countries with active programs to reduce city pollution and carbon footprint. THE JNZ SHUTTLE bolsters ZAP Jonway's fleet product offering, further expanding our product range in international fleet markets. ZAP Jonway has assigned a separate marketing team to address business-to-business and business-to-government sales opportunities in China and will be ready to launch this product through its new channels in the second quarter of 2012."
The company expects the van to expand sales into commercial and government fleets in urban centers throughout China and developing countries worldwide. Last year China minivan sales increased by 89 percent according to the China Passenger Car Association. General Motors with its China JV partners SAIC (Shanghai Automotive Industry Corp) Wuling sold over 1.23 million vehicles in mostly vans and trucks, of these 700,000 were the Sunshine Van, similar to ZAP Jonway's Shuttle Van.
China is expected to further enhance its EV incentive program as part of its next Five-Year-Plan that would boost electric vehicle production, purchasing and infrastructure development with additional incentives to EV component suppliers and infrastructure providers. Plans call for a million EVs on the China roads within four years. Buyers of EVs will benefit from the central government's incentives of up to 60,000 RMB (about US$9,340 or €6,890) per full electric lithium battery powered EVs. Some local governments have granted additional financial support to match the central government's incentives.
About ZAP Jonway
ZAP Jonway combines the attributes of both companies, ZAP and Jonway Automobile, to design and manufacture quality, affordable gasoline and new energy electric vehicles (EVs). With Jonway Automobile's established ISO 9000 manufacturing facilities, research and development and sales and customer services facilities in China, ZAP Jonway is well positioned to scale up production and sales for both gasoline and EVs for China and the international markets. ZAP, an early pioneer of EVs, brings to the new combined company a broad range of EV design experience that is being applied to new product lines. ZAP Jonway is focused on addressing EV fleets targeting city delivery trucks and vans used by university campuses, government and corporate markets in China and the United States, while utilizing its gasoline vehicle production quantities to gain economy of scale through its common vehicle parts and platforms. ZAP Jonway benefits from the established China dealership and customer support network developed by Jonway Automobile for its China sales and services. ZAP Jonway is headquartered in Santa Rosa, California and its production facility is located in Zhejiang Province of the People's Republic of China. Additional information about ZAP Jonway is available at http://www.zapworld.com.
The ZAP Jonway logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10607
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.
CONTACT: Investor Contact: Becky Herrick LHA +1-415-433-3777 email@example.com Company Contact: Alex Campbell ZAP Jonway USA +1-707-525-8658 ext. 241 firstname.lastname@example.org