| 01-02-2008 After
signed cooperation agreement to set up a joint venture with U.S. ZAP Electric
Vehicle Corporation(hereinafter referred to as "ZAP"), China YoungMan
Coach Company recently again singed a second sales cooperation agreement with
ZAP, in which ZAP corporation will aquire YoungMan's exclusive coach distributorship
in American. Therefore, YoungMan has made a further step to enter North American
market. Unlike
the first cooperation agreement setting a joint venture is aiming at both passenger
car and commercial vehicle, this second contract is focusing on conferring YoungMan's
exclusive coach distributorship to ZAP which means YoungMan, in the process of
exploring U.S. market, has achieved substantive progress in constructing North
American sales channel. In
addition, according to the agreement, YoungMan not only sales its luxurious coaches
and commercial trucks through the channel of ZAP Corporation, but also launches
electric bus and hybrid-powered bus in U.S.. Yet the two sides have't disclosed
specific timetable. ZAP
executive president SteveSchneider expressed that YoungMan coaches have been exported
to Russia, Germany and the Pacific Rim countries, he expects both two sides could
introduce low-cost and high-quality coaches to North American as early as possible. This
agreement has been the second cooperation between the two parts. Early in September
2007, YoungMan and ZAP jointly announced a statement in California, American,
announcing that both two sides have signed an agreement to set up a joint venture
and establish a electric vehicle research centre in California U.S. and a electric
vehicle production base in China. This new joint venture will produce, sale and
distribute electric vehicles and hybrid-powered vehicles and is committed to developing
and producing charging infrastructure.
Editor:James
Yin from Chinabuses.com
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