Purchase order for ZapJonway SUV A380 4-15-2011
(3) Compared with NCAP tests in other parts of the world, the tests C-NCAP carries out are often insufficient, less strict, and based on compromised requirements. C-NCAP administers three tests: frontal of 100% and 40% overlap and side impact, omitting pedestrian protection, rear impact, and side impact pole tests. And it usually crashes cars at a lower speed than other NCAPs, opting for 50km/h in the frontal test–compared with 64km/h in Europe, Australia and Latin America, and 56km/h in the US.
Watered down Tests is Why cars pass Chinese NCAPS..
Chinese NCAPS are watered down tests that arent INDEPENDENT and a known smokescreen for Chinese manufacturers..
Where are the Euro NCAPS or to get into South Korea sales the NHTSA tests, that Korea has adopted..
So here is the CNCAP RESULTS for the previous generation 2010 A380 SUV. Zap plans to sell as an EV a redesign 2011 model introduced at dealer conference.
Next time check the date. That PR was from nearly 18 months ago, and I don't seem to recall any cars being shipped. Oh yeah, an agreement to agree (contract)is worthless. This is what ZAP has been doing since it went public. If you've read the filings and exhibits, you know this is going to be a Chinese company before long.
AAPL: 100% Apple products - Designed in California made in China . #2 Company in market cap.
therefore like ZapJonway as a Chinese-Us company.
I would like to see the mass production of EVs to commence in Q4 originally expected by June 2011. The whole purpose Cathaya invested over u$30,000.000 in cash for this deal,so Zap can finally produce electric cars.
AS posted in this forum before :
"Further, Jonway Automobile is expected to establish additional credit lines with Chinese banks to finance working capital requirements and increase its manufacturing capability to accommodate the new EV manufacturing line and new traditional vehicle models anticipated to be introduced at the end of 2012."
SEC filing Sept. -06 2011
On August 11, 2011, Zhejiang Jonway Automobile Co., Ltd. ("Jonway"), a majority owned subsidiary of ZAP, entered into a Credit Granting Agreement with the Taizhou branch of China Merchants Bank ("China Merchants Bank") for a revolving credit line of RMB $21 million.
And yeah don't worry cause Jonway's 49% owners have a good chunk of the 29,000.000 in cash in their pockets.But for now and as agreed is fair enough to take some money off the Jonway's lands .. why use the precious cash ? right?
Priscilla Lu, Ph.D, Chairman
Steve Schneider, Co-CEO USA
Alex Wang, Co-CEO China
Benjamin Zhu, CFO
"We look forward to an exciting 2011 year where we shall be introducing our new production EV products, and adding to our traditional gasoline models with the delivery of a 7 passenger van SUV, along with our new smaller 3 door version of the SUV for international markets. These new products will be available at the end of 4Q2011"
ZAP Jonway’s A380 EV which expect to be in production by 4Q2011 will first be introduced in China, and available to be shipped to other international markets outside of US after that. We anticipate that the process of type approval and homologation for the US will begin in the third quarter of 2011.
Gary Dodd- Resigned ZAP President
Peter Scholl, Resigned ZAP Director
A. Yousef Resigned Chairman of the Board and person to him ZAP DEFAULTED on 2M loan of which collateral was ZAP showroom. ZAP now paying Yousef 29K a month rent for office space to keep 4th st address intact.
Yousef going to get distribution rights in Middle East for his dealership. Dont believe electric will be selling to well where 93 Hi test still is only 50 cent a gallon and there is very little infrastructure in the desert for a recharge..
None of these people are buying... they just left ZAP in last 16 months.. some left in last 2 weeks.. Why are they NOT buying MORE stock????
Because the all know this is POS to be avoided