Zap (ZAAP) 0.0317 $ZAAP
ZAP and Jonway Auto Ramps Daily Production of EV Minivan to Fifty EVs per Day with Target of Reaching 2,000 per Month by 1st Quarter 2016
PR Newswire - Tue Oct 27, 7:36PM CDT
ZAP (OTC: ZAAP) -- ZAP and Jonway Auto announce that they have increased factory production capacity and running operations at 7 days a week, single shift, with production of around 50 EV minivans per day in order to meet pressing backlog orders from Dong Feng Motor Corporation (http://www.dfmc.com.cn/dfmczg/main_en.aspx). Dong Feng is demanding delivery of at least 3,000 EV minivans this quarter by December 31, 2015 and expects its orders to increase to no less than 2,000 per month starting January 2016. Jonway Auto is on target to produce 800 EV minivans in October and will be ramping up to meet the 3,000 EV minivans for this year. A second shift with additional factory equipment may be added to reliably meet volumes of 2,000 or more vehicles per month. The target is to reach sales of no less than 20,000 of Jonway's EV minivans in 2016 and aggregating to sales of 100,000 of ZAP and Jonway's EV minivans as projected by Dong Feng over the next three years. The partnership with Dong Feng Motor facilitated by Shi Kong from Hangzhou enables Jonway Auto to offload the cost of lithium battery and the electric motor cost to Dong Feng and Shi Kong. This represents more than half of the cost of materials for the EV minivans. Even with this reduction in the top and bottom line by taking out the lithium battery and motor costs, the projected revenues of the 20,000 EV minivans would exceed US$150 million if achieved, and with reasonable margins to achieve profitability in 2016, barring any supplier parts availability issues.
ZAP Jonway and Dong Feng Motor Corporation Hold Joint Partnership Conference to Announce Jonway's EV Minivan Volume Production Orders for 20,000 in 2016
PR Newswire - Mon Oct 12, 1:51PM CDT
ZAP (ZAAP: OTC) - ZAP and Jonway Auto, jointly with Dong Feng Motor Corporation (http://www.dfmc.com.cn/dfmczg/main_en.aspx), held a supplier conference on October 8th in Hangzhou, Zhejiang Province to announce volume orders for mass production of Jonway's EV minivan for 2016. ZAP Jonway's EV minivan, marketed by Dong Feng Motor Corporation under Dong Feng's label received favorable market response after initial delivery of a few hundred vehicles last month. Dong Feng Motor's deputy CEO urged Jonway Auto to prepare to increase manufacturing production to support up to 20,000 of Jonway's EV minivan in 2016. They estimate up to 100,000 orders of Jonway's EV minivan over the next three years due to strong market demand for EV delivery vehicles in metro cities. The supplier meeting was held as a joint partnership conference to give Jonway Auto's suppliers visibility and confirmation on future orders and the need to quickly ramp production of the parts needed to supply the increasing volume production of Jonway's EV minivan. Dong Feng Motor stated that they plan to order more than 20,000 of Jonway Auto's EV minivan orders for 2016. Current backlog of Jonway's EV minivan is over 10,000, of which approximately a third is expected to be delivered before the end of this year. The slow start in production earlier this year was due to working capital needs which are now partially satisfied by funding and loans from ZAP and Jonway's major shareholders. Additional funding would still be needed to support the large working capital to fully meet the delivery of EV orders for 2016.
CEO Funds $10 million To Support ZAP and Jonway Auto in Delivering 11,000 EV minivan Orders
PR Newswire - Fri Sep 11, 5:00AM CDT
ZAP (ZAAP: OTC) - Wang Gang (Alex), the Co-CEO of ZAP and CEO of Jonway Auto funds ZAP and Jonway Auto to provide additional working capital to meet current Electrical Vehicle (EV) orders in the pipeline. There is urgency to deliver the orders placed by Dong Feng Motor Corporation (www.dfmc.com.cn), working through their partners, Shi Kong based in Hangzhou, Zhejiang Province for 5,000 of Jonway Auto's EV minivans and 6,000 orders of Jonway Auto's EV minivans from Holley Metering (http://holleymeter.en.made-in-china.com). These orders were placed last quarter with down payments for initial deliveries expected in this quarter, with expectations to complete all of the deliveries before Chinese New Year early 2016. Due to the increase need in working capital from the large EV orders, ZAP and Jonway Auto have been seeking the funds to support the working capital to fulfill these orders.
ZAP and Jonway Auto Exhibits EV Products in Peru Auto Show
PR Newswire - Wed Dec 10, 12:21PM CST
ZAP (ZAAP), an Electric Vehicle (EV) automotive company incorporated in California Bay Area, and Jonway Auto exhibited in Peru from November 20th to 30th, with their dealership partner Dai-Ichi Motors, showing the Urbee and ZAP Jonway's new model, the Falcon A-380 SUV. This is the first showing of the EV Urbee in South American auto shows, and thus received tremendous interest from the public.
ZAP and Jonway Auto Exhibits URBEE in Los Angeles Auto Show
PR Newswire - Wed Nov 26, 10:57AM CST
ZAP (ZAAP), an Electric Vehicle (EV) automotive company incorporated in California Bay Area, and Jonway Auto is exhibiting the URBEE at the Los Angeles Auto Show in the Concourse Hall at the Los Angeles Convention Center. The Los Angeles Auto Show is from November 21st to November 30th this week.
ZAP and Jonway Auto Ramps Daily Production of EV Minivan to Fifty EVs per Day with Target of Reaching 2,000 per Month by 1st Quarter 2016
PR Newswire - Tue Oct 27, 7:36PM CDT
ZAP (OTC: ZAAP) -- ZAP and Jonway Auto announce that they have increased factory production capacity and running operations at 7 days a week, single shift, with production of around 50 EV minivans per day in order to meet pressing backlog orders from Dong Feng Motor Corporation (http://www.dfmc.com.cn/dfmczg/main_en.aspx). Dong Feng is demanding delivery of at least 3,000 EV minivans this quarter by December 31, 2015 and expects its orders to increase to no less than 2,000 per month starting January 2016. Jonway Auto is on target to produce 800 EV minivans in October and will be ramping up to meet the 3,000 EV minivans for this year. A second shift with additional factory equipment may be added to reliably meet volumes of 2,000 or more vehicles per month. The target is to reach sales of no less than 20,000 of Jonway's EV minivans in 2016 and aggregating to sales of 100,000 of ZAP and Jonway's EV minivans as projected by Dong Feng over the next three years. The partnership with Dong Feng Motor facilitated by Shi Kong from Hangzhou enables Jonway Auto to offload the cost of lithium battery and the electric motor cost to Dong Feng and Shi Kong. This represents more than half of the cost of materials for the EV minivans. Even with this reduction in the top and bottom line by taking out the lithium battery and motor costs, the projected revenues of the 20,000 EV minivans would exceed US$150 million if achieved, and with reasonable margins to achieve profitability in 2016, barring any supplier parts availability issues.
ZAP Jonway and Dong Feng Motor Corporation Hold Joint Partnership Conference to Announce Jonway's EV Minivan Volume Production Orders for 20,000 in 2016
PR Newswire - Mon Oct 12, 1:51PM CDT
ZAP (ZAAP: OTC) - ZAP and Jonway Auto, jointly with Dong Feng Motor Corporation (http://www.dfmc.com.cn/dfmczg/main_en.aspx), held a supplier conference on October 8th in Hangzhou, Zhejiang Province to announce volume orders for mass production of Jonway's EV minivan for 2016. ZAP Jonway's EV minivan, marketed by Dong Feng Motor Corporation under Dong Feng's label received favorable market response after initial delivery of a few hundred vehicles last month. Dong Feng Motor's deputy CEO urged Jonway Auto to prepare to increase manufacturing production to support up to 20,000 of Jonway's EV minivan in 2016. They estimate up to 100,000 orders of Jonway's EV minivan over the next three years due to strong market demand for EV delivery vehicles in metro cities. The supplier meeting was held as a joint partnership conference to give Jonway Auto's suppliers visibility and confirmation on future orders and the need to quickly ramp production of the parts needed to supply the increasing volume production of Jonway's EV minivan. Dong Feng Motor stated that they plan to order more than 20,000 of Jonway Auto's EV minivan orders for 2016. Current backlog of Jonway's EV minivan is over 10,000, of which approximately a third is expected to be delivered before the end of this year. The slow start in production earlier this year was due to working capital needs which are now partially satisfied by funding and loans from ZAP and Jonway's major shareholders. Additional funding would still be needed to support the large working capital to fully meet the delivery of EV orders for 2016.
CEO Funds $10 million To Support ZAP and Jonway Auto in Delivering 11,000 EV minivan Orders
PR Newswire - Fri Sep 11, 5:00AM CDT
ZAP (ZAAP: OTC) - Wang Gang (Alex), the Co-CEO of ZAP and CEO of Jonway Auto funds ZAP and Jonway Auto to provide additional working capital to meet current Electrical Vehicle (EV) orders in the pipeline. There is urgency to deliver the orders placed by Dong Feng Motor Corporation (www.dfmc.com.cn), working through their partners, Shi Kong based in Hangzhou, Zhejiang Province for 5,000 of Jonway Auto's EV minivans and 6,000 orders of Jonway Auto's EV minivans from Holley Metering (http://holleymeter.en.made-in-china.com). These orders were placed last quarter with down payments for initial deliveries expected in this quarter, with expectations to complete all of the deliveries before Chinese New Year early 2016. Due to the increase need in working capital from the large EV orders, ZAP and Jonway Auto have been seeking the funds to support the working capital to fulfill these orders.
ZAP and Jonway Auto Exhibits EV Products in Peru Auto Show
PR Newswire - Wed Dec 10, 12:21PM CST
ZAP (ZAAP), an Electric Vehicle (EV) automotive company incorporated in California Bay Area, and Jonway Auto exhibited in Peru from November 20th to 30th, with their dealership partner Dai-Ichi Motors, showing the Urbee and ZAP Jonway's new model, the Falcon A-380 SUV. This is the first showing of the EV Urbee in South American auto shows, and thus received tremendous interest from the public.
ZAP and Jonway Auto Exhibits URBEE in Los Angeles Auto Show
PR Newswire - Wed Nov 26, 10:57AM CST
ZAP (ZAAP), an Electric Vehicle (EV) automotive company incorporated in California Bay Area, and Jonway Auto is exhibiting the URBEE at the Los Angeles Auto Show in the Concourse Hall at the Los Angeles Convention Center. The Los Angeles Auto Show is from November 21st to November 30th this week.
