|By PR Newswire||
|March 6, 2014 03:31 PM EST||
SANTA ROSA, Calif., March 6, 2014 /PRNewswire/ -- ZAP (ZAAP) an automotive company incorporated in California and headquartered in Santa Rosa, California announced that Jonway Auto, its subsidiary in Zhejiang, China is launching a small EV sedan, SPARKEE for city commuters in China.
Focusing on the growing demands for electric vehicles (EVs) in China driven by Chinese government policies, ZAP and Jonway Auto has developed a small EV sedan designed for city driving. Due to the high levels of air pollution in the large Chinese cities, the Chinese government has changed its subsidy policy to scale based on the range a EV can achieve, instead of the former policy which was based on the amount of lithium batteries used. EVs with less than 100 km range receive a subsidy of 30,000 RMB (~USD$5000) and this scales up to 60,000 RMB (~$10,000) for EVs with range over 200 km.
SPARKEE comes in two models, the lead acid version which has a lower range of 120km and the lithium version which has a longer range of more than 180km between charges. Sales of SPARKEE in China is intended primarily for the densely populated urban areas where many of the city governments have to pay penalties for exceeding pollution indices and government vehicles that have emissions are forced to stay off the roads on "red alert" days. Jonway Auto is gearing up production to deliver several thousand of these vehicles for the Chinese market by June 2014 and will be working with local dealers who see a huge market. SPARKEE is attractively priced between US$7000 to US$12,000 depending on the motor size and battery type as well as capacity.
Jonway Auto is also working with an Eastern European market partner who is doing type approval of this vehicle for the Eastern European market and is projecting sales of several thousand per year once approval is completed. ZAP plans to deliver other versions of this model that is targeted at city fleets and small delivery vans intended for city service vehicles.
ZAP plans to bring SPARKEE to selected markets in South America and is considering US partners for distribution into the US market upon proper type approval and certification.
About ZAP and Jonway Auto
ZAP and Jonway Auto designs and manufactures quality, affordable gasoline and new energy electric vehicles (EVs). Jonway Automobile has ISO 9000 manufacturing facilities, engineering, sales and customer services facilities in China, ZAP Jonway has production capacity of up to 50,000 vehicles per year, and has sales distribution network in China. ZAP, an early pioneer of EVs, brings to both companies a broad range of EV design experience that is applied to the new product lines. ZAP Jonway is headquartered in Santa Rosa, California and Jonway Auto is located in Zhejiang Province of the People's Republic of China. Additional information about ZAP Jonway is available at http://www.zapworld.com.
This press release contains certain forward-looking statements is defined in the Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "estimate," "expect," "intend," "plan," and similar expressions that may tend to suggest a future event or outcome are not guarantees of performance, which cannot be predicted or anticipated. These forward-looking statements are based largely on expectations and are subject to a number of risks and uncertainties, many of which are beyond the control of the Company. Actual results could differ materially from these forward-looking statements.
SOURCE ZAP and Jonway Auto
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