ZAP Acquires 51% Stake in China’s Jonway Auto in Focus On China EV Market; Plans Acquisition of Other 49% in Second Phase
Green Car Congress
SEPTEMBER 20, 2010
The boards of directors for ZAP and Jonway Auto approved and signed the merger agreement on 2 July 2010. Jonway Auto reported annual revenues of approximately US$40 million in 2009 and approximately US$20 million for the first quarter of 2010. Tags: China Electric (Battery) Vehicle Manufacturers. million in cash. Earlier post.).
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