Friday, September 17, 2010

ZAP-Jonway, acquisition approved...!!!

July 2010, ZAP confirmed an agreement with Jonway Group to acquire a majority stake in Zhejiang Jonway Automobile[36][37]. The Chinese Department of Commerce in Zhejiang Province confirmed the approval of the aquisition in September 2010[38].
This marks another new link from SINO-U.S.  strategic alliances in the EV industry that is expected to catapult both companies to a new development stage, on the other hand the target market on which ZAP Jonway is enclosed will confirm China becoming the world’s largest market for plug-in electric vehicles thanks to a $14.7 billion government investment on all-electric vehicles and infrastructure, against over $2.5 billion from the Obama government in incentives for battery makers, consumer purchases, and for charging infrastructure.

At this pace China will beat the US market out when it comes to electric vehicles.

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