I made a summary here:-
ZAP signs a deal with Youngman Automotive in China for producing ZAP-X
The even shorter summary is that ZAP has announced a deal for producing the ZAP-X vapor(..er..)..vehicle.
Youngman Automotive is said to be a large vehicle manufacturer in China with 12 subsidiaries. They produce over 60 different vehicles, can produce over 200,000 vehicles per year, and sell vehicles all over the world.
The CEO of Lotus has joined the board of ZAP and was instrumental in making the deal.
I've been observing ZAP and a shareholder of ZAP several times, and they've made large splashy announcements in the past that turned out to be nothing or worse. So I recommend an appropriate dosage of grains of salt. But it looks interesting and yahoogling "Youngman Automotive Group" turned up lots of interesting articles.
ZAP signs a deal with Youngman Automotive in China for producing ZAP-X
ZAP signs a deal with Youngman Automotive in China for producing ZAP-X
ZAP signs a deal with Youngman Automotive in China for producing ZAP-X
ZAP signs a deal with Youngman Automotive in China for producing ZAP-X
ZAP signs a deal with Youngman Automotive in China for producing ZAP-X
ZAP signs a deal with Youngman Automotive in China for producing ZAP-X
ZAP signs a deal with Youngman Automotive in China for producing ZAP-X
I know what you mean. I bought some of their stock when they announced they were going to import the SmartCar. I dumped it for a mild loss when nothing happened for a year. Later on I met a guy had actually invested with them to become a local dealer. Man, was he bitter, but I felt better only having lost a few bucks in the market. (Deep down I'm still really shallow.) I'm hoping this is one of the projects they see through to the end, but I'll keep my investments where they are for the moment thank you very much.
"we must be the change we wish to see in the world"
I think the ZAP guy means well but has had trouble executing some of his "projects". Obvio? I hadn't heard about the Lotus guy getting on board. That's a postitive sign. I did hear Youngman was sinking $40 million into the deal and assuming a 51% share of the (ZAP-X?) venture. That's some serious cash. Also Youngman has said they will begin delivering ZAP-X samples by January to begin the testing process. I think it might actually be going somewhere this time. That said, I would invest in the company personally unless I had money to lose. Which I don't.
Yeah, I agree with all the sentiment here. From my point of view I'd give the Zap-X a 50% chance at present - but boy would it be great if it came out!
I do think that the Lotus involvement speaks for a certain amount of credibility. Now that they're on the board and Youngman is investing this brings it up (I was only giving it a 25% on the patent-pending JDH "is-it-for-real-o-meter".
But boy do I hope they come through! I'd heard about a $60K price point for a 155mph, 4 wheel drive, 5+2 crossover vehicle with a 300 mile range. Man - I could *almost* afford one of those and if it had those specs then I could replace my Subaru Legacy wagon (we regularly travel around 250 miles one way for a weekend "up North" (sorry dave w!))
They were showing off a concept vehicle at one of the auto shows - don't know if it was drivable. The in-wheel electric vehicles have already been installed in a Mini.
So, this stuff isn't all smoke and mirrors. I wouldn't become a dealer just yet though! (Right, like I could jump from peddling $2000 mopeds to $60000 speed demons - but I can still dream!)
John H. Founder of Current Motor Company - opinions on this site belong to me; not to my employer
Remember: " 'lectric for local. diesel for distance" - JTH, Amp Bros || "No Gas.