Posts Tagged ‘trike’
Jonway Group Funds $18.2 Million to ZAP Jonway to Bring 2012 New Products to Production: ALIAS and JNZ Shuttle – Gas and Electric
SANTA ROSA, Calif., Dec. 19, 2011 (GLOBE NEWSWIRE) — ZAP Jonway (OTCBB:ZAAP.OB – News), a designer and manufacturer of new energy and electric vehicles (EVs), entered a funding agreement with Jonway Group CO. Ltd., to pay for a total of $18.2 million for the already completed interior and exterior design and molding of the JNZ SHUTTLE Van; the completed engineering design, type approval certification and catalogue license of the gasoline transmission of the JNZ SHUTTLE Van; and the ALIAS interior and exterior design and molding, which is underway.
Alex Wang, Co-CEO of ZAP Jonway’s China operation, CEO of Jonway Automobile, and a Director of Jonway Group, stated: “Jonway Group, the original holding company of Jonway Automobile is committed to delivering industry leading full electric new energy vehicles to the market, utilizing the strengths of Jonway Automobile’s manufacturing with ZAP’s EV technology experience and design. We believed in the market potential of the JNZ SHUTTLE Vans and started this design more than a year ago in Jonway Group, funded by the holding company of Jonway Automobile, while ZAP Jonway evaluates the market potential of this Read the rest of this entry »
SANTA ROSA, Calif., Dec. 16, 2011 (GLOBE NEWSWIRE) — ZAP Jonway (OTCBB:ZAAP.OB), a designer and manufacturer of new energy and electric vehicles (EVs), plans production of the ALIAS, ZAP’s highly anticipated sports EV, in the fourth quarter of 2012.
This limited edition production is now planned due to popular demand. It will showcase the engineering excellence of the ZAP Jonway’s EV power train and design. This 3-wheel version of the Alias is designed to be highway safety compliant and yet be able to expedite the long type approval testing process for entering into the U.S. market. Designed with decades of electric and automotive experience, the ALIAS serves a growing niche of automotive enthusiasts who want an affordable electric vehicle with the performance, looks and handling of an impressive sports car. The vehicle has a peak torque of over 200 kilowatts and range of 150 miles between charges. With one of the best engineered EV motors available supplied by Remy Motors, compact and light weight, the vehicle’s performance, handling and ride is competitive with traditional Tier One sports vehicles. ==> Continued Click Here
“Looper” starring Bruce Willis is a Sci Fi film set in a dystopic near-future. A killer who works for the mob of the future recognizes one of his targets as his future self. Set photos from New Orleans in March of this year reveal cars of the future that are a blend between advanced technologies and Mad Max, some of them electric cars using solar panels. Several cars were requested for the film shoot including the ALIAS. From the look of the photos, you can tell they liked the ALIAS and we’re looking forward to seeing how they feature it in the film when it debuts in late 2012.
SANTA ROSA, California (May 23, 2011) — ZAP Jonway (OTC BB: ZAAP) recently filed its Form 10-Q for the quarterly period ended March 31, 2011, which included consolidated financial results for the first time taking into account ZAP’s acquisition of 51% of the equity shares of Zhejiang Jonway Automobile Co. Ltd., or Jonway Automobile, located in Sanmen, Zhejiang, China, in January 2011. We refer to this transaction as the Jonway Acquisition. The Jonway Acquisition was the result of a yearlong effort by both parties. Jonway Automobile is an ISO 9000 production-ready automobile manufacturer in China with facilities that were installed in 2009. Through the Jonway Acquisition, ZAP has been able to gain access to a cost-competitive production team in China with manufacturing expertise and access to China’s growing electric vehicle, or EV, market. This complementary relationship is further enhanced by ZAP’s EV technology and expertise, which adds to Jonway Automobile’s existing traditional vehicle sales business and broadens its global sales footprint.
The press release provided an update on the development plans for the Alias:
In addition, ZAP Jonway plans to deliver early pre-production models of the A380EV to the Shanghai Yangpu government for its Green City Project in the second quarter of 2011. The full production of the A380EV is expected in the latter part of the fourth quarter of 2011. ZAP Jonway anticipates that the Alias model will follow in early 2012.
Read more at ZAP Global News
ZAP Completes 51% Acquisition of Jonway Automobile of China, Cathaya Capital Funds a Total of US$36 Million
New U.S.-China Automaker Aims at Emerging Electric Car Market
SANTA ROSA, California (January 25, 2011) – Electric vehicle market pioneer ZAP (OTC BB: ZAAP) announced today that it has completed its acquisition of 51 percent of the capital stock of Zhejiang Jonway Automobile Co. Ltd. of Sanmen, Zhejiang, China. Cathaya Capital LP has funded the aggregate amount of US$36 million.
The final payment of US$19 million related to the acquisition was made on January 21, 2011 with the funding from Cathaya Capital. Total cash payment for the acquisition of 51 percent of Jonway Automobile was US$30,030,000.
With ZAP’s electric vehicle (EV) technology expertise and international experience, the combined company intends to build the necessary production platform to address the Chinese EV market. The newly combined company, to be renamed ZAP Jonway, will leverage Jonway Auto’s A380 SUV, as well as its established distribution channels to the Chinese market with over 90 direct dealers. ZAP Jonway will manufacture and sell SUVs powered by ZAP’s electric drive train and expects to benefit from the 60,000 RMB (approximately US$9,000) government incentives granted to electric car buyers.
Jonway Automobile anticipates vehicle sales for its gasoline A380 SUV to increase by 40 percent to over 10,000 vehicles in 2011 compared to 2010. In 2009, its first year of sales, Jonway Automobile experienced sales of 4,000 SUVs, which rose to over 7,000 in 2010, each with a sales price of around US$11,000. ZAP Jonway is currently adding to its manufacturing production lines to deliver the A380 EV SUV by the anticipated date of June 2011 and ZAP’s ALIAS EV roadster by September 2011.
Read More at the ZAP Global Blog: http://zapglobal.wordpress.com
We have hours of footage from the X PRIZE, but this is one of my personal favorites I’ve been saving for a cold winter day. This is the Skidpad test on which Consumer Reports tests all new cars.
According to Wikipedia, a skidpad or skidpan is a large, circular area of flat pavement used for various tests of a car’s handling. The most common skidpad use is testing lateral acceleration, measured in g.
The test is carried out on a circular track with a calculated radius. A car driving on said track is slowly accelerated until the outermost tires on the car begin to slip. Going any faster would cause the car to drive outside the 300 ft radius. At this point, the speed of the car is recorded, and given the centripetal acceleration formula, v²/r, a car’s handling in terms of lateral gs can be derived.
To pass the test, the Alias had to surpass 40 MPH to achieve a lateral acceleration of .7 g without losing control. As you can see, this was a piece of cake for the Alias and X PRIZE posted a result of .85 g, not bad considering Al Unser Jr. was just getting started when they called him in. None of the X PRIZE cars in the Knockout Stage had a problem with this test and it was dropped for the finals.
Thankz to ZAP Alias Team Member Prashanth Radhakrishnan for capturing this raw video, which was posted originally on Facebook in June.
Jonway Auto plans production of Alias by third quarter 2011 at Sanmen, China factory
SANTA ROSA, Calif., Nov 18, 2010 (BUSINESS WIRE) — Electric vehicle pioneer ZAP (Stock Symbol: ZAAP) completed its initial down payment of US$10 million towards the 51% acquisition of Jonway Automobile. Jonway Automobile plans to complete an audit of its financial statements by December 31, 2010 and thereafter, ZAP intends to finalize the acquisition with the payment of the US$19 million balance of the US$29 million purchase price.
Jonway Automobile reported sales of over 4,000 gasoline vehicles through the end of September 2010, and projects total sales of over 6,500 vehicles by December 31, 2010. Jonway Automobile reported that wholesale sales prices of the vehicles averaged US$10,000. Jonway Automobile projects year-end revenues for 2010 to increase more than 40% compared to last year with its current gasoline vehicle product line. Jonway Automobile reports that it is debt-free, cash flow positive and able to finance its gasoline product revenue growth at the same rate for 2011.
Under the new equity structure, Jonway Automobile will be 51% owned by ZAP, and 49% by its original parent Jonway Group. This equity ownership transfer was approved by the Chinese government on October 3, 2010. Jonway Automobile plans to ramp up production of the A380 SUV electric vehicle (EV) in the first half of 2011 together with ZAP’s Alias EV by third quarter 2011 at their Sanmen, Zhejiang factory. By combining Jonway Auto’s ISO 9000 manufacturing facilities, capable of delivering over 50,000 vehicles per year, with ZAP’s EV technologies, products and expertise, the company aims to lead the emerging EV fleet market in China.
Read More at ZAP Global Blog