China: Govt approves ZAP’s stake in Jonway

The Commerce Department of China's Zhejiang province has approved California-based electric vehicle manufacturer ZAP's proposed acquisition of a 51% equity interest in Zhejiang Jonway Automobile (Jonway). ZAP originally announced its intention to acquire the 51% stake in Jonway in July this year. The cash transaction, valued at US$29.03m, was approved by Subscribe to Automotive World … Continued

• By Webmaster
• September 17, 2010