Zhejiang Jonway Automobile Co. Ltd. A380 SUV Factory 2010
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Uploaded by zapevfilms on Jul 13, 2010
Clips from a recent tour of the factory for the Jonway A380 SUV. Jonway Automobile of Sanmen, China is subject of a recent business agreement for majority acquisition, 51%, by ZAP electric vehicles of California. For details on the transaction, click the link below:
ZAP (OTC:BB ZAAP) and Jonway Group today announced they have signed definitive agreements according to which ZAP will acquire 51 percent of Zhejiang Jonway Automobile Co. Ltd. as part of a strategy to capitalize on the growing automotive and electric vehicle (EV) market in China. ZAP is a 15-year-old California EV company and Jonway Auto is a wholly owned subsidiary of Jonway Group, a 20-year-old Chinese vehicle manufacturer. According to the terms of the definitive agreements, ZAP will acquire 51% of Jonway Auto for US$29.03 million in cash. The boards of directors for ZAP and Jonway Auto approved and signed the merger agreement on July 2, 2010.
http://zapglobal.wordpress.com/2010/07/08/zap-acquires-majority-stake-in-chin...
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