SAO PAOLO, BRAZIL--(Marketwire - Nov 26, 2012) - The A380 line of SUVs from ZAP Jonway (OTCBB: ZAAP) debuted at the São Paulo 27th International Automobile Trade Show October 24 to November 4, 2012. The A380 appeared as part of a lineup by AGRA 8000's S. Auto, representing ZAP Jonway as part of the new wave of automotive brands for Brazil.
The world's fifth largest market, Brazil hosted passenger car and light commercial vehicle brands from all over the world, including North America, Europe, Japan, Korea and China. The Brazilian car market is growing faster than some BRICS nations (Russia, India, and South Africa). Sales volume of 3.4 million units in 2011 is expected to grow to 3.6 million in 2014 and 4.5 million by 2018 (ANFAVEA projections).
"There is a new wave of brands entering Brazil and we are very pleased with the new partner relationship we have built with AGRA 8000 and S. Auto over the last few years to be positioned at such a historic crossroads where Chinese manufacturers are beginning to be recognized as a global market players," said Alex Wang, Co-CEO of ZAP Jonway.
"The influx of auto manufacturers into Brazil, like Nissan, BMW, Hyundai, Peugeot-Citroen, Renault, Toyota, Mitsubishi and Honda, are joined by a new wave of Chinese brands, JAC, Chery, Great Wall, Chana, Haima, and newer players represented by S. Auto with ZAP Jonway, Shuanghuan, Landwind and Changhe. The market trend appears to be dismantling of the long term domination of the Brazil car market by the Big Four: WM, General Motors, Fiat and Ford, which controls 80 percent of the market, and the entry of new and more aggressive manufacturers that can offer a broad range of products at economically competitive prices."
Jonway Auto has been working with S. Auto to complete the Brazilian type approval for more than one year and expects to have this issued in the next couple of months. ACTION BRAZIL through its subsidiary AGRA 8000 has established the S. Auto brand for its vehicles business, which includes ZAP Jonway. Based in Rio de Janiero, S. Auto expects to launch its business in early 2013 after four years of preparation in licenses and type approvals. S. Auto is focused on international auto importation to provide more choice and value for Brazilian consumers. http://www.s-autobrasil.com.br/
This press release contains forward-looking statements. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of ZAP's products, increased levels of competition, new products and technological changes, ZAP's dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time in ZAP's periodic reports filed with the Securities and Exchange Commission.