The stock continues to inch higher now after bouncing of .40 support a few weeks ago. Closed at .49 Today. Chart still looking strong, and 2.00 target still up by analyst.
Two News articles Today:
ZAP Jonway Alias Electric Car on Display in Washington DC Today
100+ MPGe Electric Car in Progressive Insurance Automotive X PRIZE Awards Ceremony Followed by Presentation to U.S. Department of Energy Secretary Steven Chu
WASHINGTON, Sept. 16 /PRNewswire/ -- The Alias electric car from ZAP Jonway (OTC Bulletin Board:
ZAAP.ob -
News) will be participating in two events in Washington, D.C. on Thursday, September 16, 2010. From 10:30 AM ? 12:00 PM, the Alias will be featured as a finalist in the Progressive Insurance Automotive X PRIZE Awards Ceremony at the Historical Society of Washington, D.C. From 2:15 to 2:45 PM the Alias will be presented to U.S. Department of Energy Secretary Steven Chu.
China Government Approves ZAP Acquisition of Majority Stake in Jonway Auto
SANTA ROSA, Calif. & ZHEJIANG, China--(BUSINESS WIRE)--The Commerce Department of Zhejiang Province in China has approved ZAP's (OTCBB:
ZAAP -
News) proposed acquisition of a 51 percent equity interest in Zhejiang Jonway Automobile Co. Limited. ZAP and Jonway now intend to move forward to satisfy the remaining conditions to closing the transaction, including but not limited to those related to financing, foreign exchange authority approval in China and share registration.
According to the terms of the definitive agreements, ZAP has the right to acquire the remaining 49% of Zhejiang Jonway Automobile Co. Limited at the same valuation by March 30, 2011 or at a then current valuation after that date.
ZAP intends to capitalize on the growing automotive and electric vehicle (EV) market in China through the proposed acquisition of a majority stake in Zhejiang Jonway Automobile Co. Limited. ZAP is a 16-year-old company located in California with expertise in EV design, while Zhejiang Jonway Automobile Co. Limited is a manufacturing subsidiary of Jonway Group, a 20-year-old vehicle manufacturer in China.