Electric car maker Zap begins Shanghai project
Zap Inc. last week said it has begun project planning with the government of Shanghai’s Yangpu District to create a Green City Zone in the downtown area.
Santa Rosa-based Zap announced Nov. 19 in San Francisco that it had signed a memorandum of understanding for the project.
The Yangpu District is a university and research hub that is home to 1.24 million people.
Zap will work with the government there to utilize electric vehicles for public transportation and install an EV charging infrastructure, battery swap-out stations and maintenance support centers.
The agreement stems from a trade delegation led by Gov. Arnold Schwarzenegger to Shanghai in September.
ZAP’s president is Gary Dodd, who is also owner and CEO of ZAP Motor Manufacturing Kentucky Inc., a company formed to make electric vehicles for ZAP at a proposed plant in Franklin, Ky., as reported by Business First.
This is not Zap’s first foray into China.
The company agreed in July to buy a 51 percent stake in Jonway Automobile Co., a subsidiary of the Chinese vehicle manufacturer Jonway Group, in the first phase of a complete acquisition of the company.
ZAP said it would pay $29.03 million in cash for the stake.
Read more in Business First.
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