ZAP and Youngman Automotive Group, China’s leading luxury motor coach and high-quality commercial truck manufacturer, have signed a joint venture agreement to manufacture, market and distribute electric and hybrid vehicles for the passenger car, truck and bus markets.
The new joint venture company will also focus on the development and manufacturing of electric charging infrastructure.
Youngman Automotive Group is a private holding company with 12 subsidiaries. Youngman’s partnership with Germany’s NEOPLAN controls more than 70% of the luxury motor coach market in China. Youngman is a supplier to NEOPLAN and MAN.
In 2004, Youngman was awarded a license to manufacture automobiles. Earlier this year, Youngman awarded Lotus Engineering a number of vehicle development projects, and has signed a vehicle distribution and technology licensing agreement with Proton. ZAP is also working with Lotus Engineering on the design of the all-electric ZAP-X crossover. (Earlier post.)
This is the most significant relationship that ZAP has ever entered into. This joint venture will provide a platform for both ZAP and Youngman to focus each other’s strengths to develop solutions that have the potential to transform the industry. Our energy will not stop at the vehicle engineering level. Using renewable energy to provide a cost effective recharging infrastructure to customers, we can change the world, one vehicle at a time.—Steve Schneider, ZAP CEO
Youngman’s portfolio of products includes luxury motor coaches, inter-urbans, city and airport buses as well as premium commercial trucks for long distance, local distribution, heavy-duty building and special services. Youngman is building new factories in Shandong province with the backing of the Chinese government to expand its automotive manufacturing capacity.