zap (ZAAP) Key Developments
ZAP Announces Board Changes
Jun 9 15
Effective June 5, 2015, ZAP accepted the resignations of Priscilla Lu and Goman Chong as directors. Ms. Tian Ming and Mr. Otto Bai were appointed directors to fill the vacancies created by the resignations of Dr. Lu and Mr. Chong. Dr. Lu will assume the position of Chairman Emeritus and will continue to serve the Company in an advisory capacity through this transition period. Ms. Ming is currently CEO of Bling Bling Health Center and was the Group VP of FAB Enterprise Group.
ZAP Announces Executive Changes
May 19 15
Effective May 15, 2015, ZAP accepted the resignation of Chi Kwong (Roy) Fung as Chief Financial Officer and as a Director. Effective May 15, 2015, the company appointed Michael Ringstad as Interim Chief Financial Officer, pending the appointment of a new Chief Financial Officer. Mr. Ringstad currently serves as the company’s comptroller.
ZAP announced delayed 10-Q filing
May 18 15
On 05/18/2015, ZAP announced that they will be unable to file their next 10-Q by the deadline required by the SEC.
ZAP announced delayed annual 10-K filing
Apr 1 15
On 04/01/2015, ZAP announced that they will be unable to file their next 10-K by the deadline required by the SEC.
ZAP and Jonway Auto Sign an OEM Contract
Feb 4 15
ZAP and Jonway Auto just signed an OEM contract on February 2, 2015 for 5,000 units of ZAP Jonway's EV Minivans that will be sold under the brand of Dong Feng Motor Corporation. Shi Kong is the integrator and agent for Jonway's EV minivan to Dong Feng Automobile, one of the top four state owned auto manufacturers in China and also the second automobile company established by the Chinese government. Dong Feng is the joint venture partner of Honda, Nissan and Citroen/Peugeot. ZAP Jonway's EV minivan will be typed approved as a delivery van with the enhanced battery capacity specified by Dong Feng Motor Corporation and integrated by its partner Shi Kong. Jonway's type approved passenger EV minivan will be the platform for getting certification for the newly configured delivery van to be sold into Dong Feng's massive nationwide auto dealership network. Jonway's EV minivan will be the first EV minivan to be offered by Dong Feng for mass market in volume production. ZAP Jonway's EV minivan will be configured as a cargo van with passenger seats removed to allow room for cargo and also additional battery capacity to operate over 300km in range per recharge. The batteries used will be supplied by Tianjin Lishan Battery, which is a long time strategic partner of ZAP and Jonway Auto. This volume contract of 5,000 vehicles is for the first year after completing certification of the new configuration. Jonway and Shi Kong are targeting delivery of these EV minivans for Dong Feng in June 2015. Therefore, the sales of Jonway's EV minivan with the Dong Feng OEM label will begin second half of 2015, through its partner Shi Kong (SKIO Matrix).