Why is ZAAP up? ZAP Launches New Small EV Sedan SPARKEE for City Commuters in China, Press Release: ZAP and Jonway Auto – Thu, Mar 6, 2014 3
ZAP Launches New Small EV Sedan SPARKEE for City Commuters in China. 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.
SPARKEE EV SEDAN
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 mod
ZAP is up because idiots like you are pumping it on every stock board on the Yahoo message boards. actually it is a scam... this from the Wikipedia entry quoted on ZAP...
"ZAP sold shares partially based on its intention to sell Smart cars, but that deal fell through, leading Daimler-Chrysler, the Smart car's manufacturer, to say that ZAP's behavior revealed "both the sham nature of its purported business and a lack of trustworthiness that is nothing short of stunning."
if you buy zap... be ready for the crash when the people who pumped it pull out all of ... YOUR ... money