ZAP designs, develops, manufactures, and sells fully electric and advanced technology vehicles. The company owns 51% of the equity shares of Zhejiang Jonway Automobile Co. Ltd. (Jonway). Jonway had approximately 230 after-sales service centers and 10 vehicle spare parts centers in China for logistics and distribution, as of December 31, 2014. ZAP Jonway refers to both ZAP and Jonway on a consolidated basis. Vehicles and Products Jonway Automotive Products: Gasoline Model Jonway’s automotive product line includes the gas fueled A380 Five-Door SUV, the A380 Three-Door SUV and the Jonway Van. The A380 Three-Door SUV has not been popular in China, and is offered only in limited quantities. Jonway A380 Five-Door: The Jonway A380 Five-Door is a gasoline powered 4-speed sport utility vehicle available in 1.5 liter engines and is available with automatic or manual transmission. Jonway Van: The Jonway Van is a conventional fuel small van. The target for volumes sales for the minivans would be in the electric vehicle (EV) models. ZAP Automotive Products: EVs ZAP Jonway SUV A380, E380 and E380-S. ZAP’s automotive product line includes the all-electric E-380 SUV. ZAP Jonway Minivan: The Minivan is offered in the traditional gasoline model with a 1.1 liter engine. This minivan would be offered as EV with two options in 2015: one with lead acid for the low end market where range is limited to 80 kilo meters (km) and speed is approximately 100km per hour and a high end model with lithium batteries where speed is 130 km per hour and range is 200 km distance. URBEE: The Urbee is a low-speed EV. With a driving range of approximately 150 km per charge, it is ideally suited for daily city driving with overnight recharging. The Urbee can hold up to two passengers is designed for corporate and university campuses, airports, warehouses, military bases, retirement communities and golf courses. A four passenger, four door version is available in China, and has a higher power engine. The Urbee is type approved for Europe as L6 vehicle, and undergoing the Department of Transportation certification process as low speed vehicle in the U.S. ZAP Jonway Launches HYBRID Compressed Natural Gas (CNG) SUV Targeting Alternative Fuel Markets HYBRID CNG as an additional product in its line of New Energy Vehicles. ZAP Jonway launched its first HYBRID CNG vehicle with Jonway Auto’s A 380 SUV. CNG is available in many international markets, but due to the lack of refueling stations in China, there is no significant market in China. The HYBRID CNG engine in the CN 380 seamlessly allows the driver to utilize the regular gasoline engine when the CNG fuel is depleted, and also automatically uses the gasoline as fuel to run the engine when it is in a cold start state and the engine is warming up. Jonway Auto was issued the EV Catalogue License and factory certification for EV production manufacturing Jonway Auto was issued the EV Catalogue License and factory certification for EV production manufacturing, and has also received E380 SUV China type approval and Catalogue License. The EV Catalogue License issued to Jonway's factory for production manufacturing of Electrical Vehicles allows their factory in Sanmen, Zhejiang to manufacture and produce Electrical Vehicle products. ZAP Jonway also received the type approval for its E380 SUV. The E380 SUV represents the first international EV to receive Chinese type approval. The E380 SUV is the first EV allowed to be produced and sold in China from an international company, ZAP. The electric power train for the E380 SUV was designed by ZAP Hangzhou Joint Venture; a joint venture company formed to do engineering design for EVs, and was principally responsible for achieving the type approval, working in conjunction with the factory engineers at Jonway Auto. Other ZAP Products ZAPPY3 Personal Transporters: The ZAPPY3 Pro Flex is designed to meet the requirements of material handling, warehousing, fabrication and construction industries. ZAP has two basic models, the Pro Flex 350 and the Pro Flex 500. Strategy The company’s strategy in the longer term, is to serve the g
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