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
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. ZAP intends to acquire the remaining 49% of Jonway Automobile following completion of the first phase and following final regulatory approval. million in cash.
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