During the corresponding time, Zap saw a revenue deteriorated by -86.77 % year on year, sequentially revenue fell by -65.43 %. While revenue at the Zap's corporate clients
ZAP currently markets and sells ZAP Jonway products internationally and to dealers
in the U.S. This sales effort has been underfunded, the Company was unable to
deliver sales in the US or South America. As a result, the international sales
effort has been on hold. The Company will revisit the US LSV market to find partners
to begin selling its Urbees, and hope to be able to establish new dealership channels
for the LSV market.
With the new focus by Jonway to emphasize primarily on electric vehicle markets
in China, the dealerships established for the gasoline products are not necessarily
appropriate. Given the lack of readily available recharging infrastructure for
electric vehicles, the main market for EVs seem to be with fleets. The current
dealership networks from Jonway sell primarily to end customers. Fleet markets
tend to be vertical markets that are better addressed by specialized sales force.
This new sales force or sales channel is currently being cultivated through
the partnerships that Jonway is establishing with its minivan EV partners.
Historically, we spent a low level of marketing and sales expenditure due to
the shortage of available funds, and as a result Jonway has relied more on the
major partners that it has established recently to launch the sales of its EV
products.
Zap’s Comment on Sales, Marketing and Customers
ZAP currently markets and sells ZAP Jonway products internationally and to dealers
in the U.S. This sales effort has been underfunded, the Company was unable to
deliver sales in the US or South America. As a result, the international sales
effort has been on hold. The Company will revisit the US LSV market to find partners
to begin selling its Urbees, and hope to be able to establish new dealership channels
for the LSV market.
With the new focus by Jonway to emphasize primarily on electric vehicle markets
in China, the dealerships established for the gasoline products are not necessarily
appropriate. Given the lack of readily available recharging infrastructure for
electric vehicles, the main market for EVs seem to be with fleets. The current
dealership networks from Jonway sell primarily to end customers. Fleet markets
tend to be vertical markets that are better addressed by specialized sales force.
This new sales force or sales channel is currently being cultivated through
the partnerships that Jonway is establishing with its minivan EV partners.
Historically, we spent a low level of marketing and sales expenditure due to
the shortage of available funds, and as a result Jonway has relied more on the
major partners that it has established recently to launch the sales of its EV
products.
Sources:
Zap’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Zap’s corporate clients.
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