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
According to the terms of the definitive agreements, ZAP has the right to acquire the remaining 49% of Jonway Auto at the same valuation by 30 March 2011 or at a then current valuation after that date. Jonway’s volume manufacturing capacity gives ZAP a strong manufacturing base with the means of commercializing its innovative EV technologies.
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