HAPP - Happiness Biotech Group announces $14M electric vehicle transaction with Ruili

Subsidiary of Happiness Biotech Group (NASDAQ:HAPP) and Taochejun (Fujian) Automobile Distribution sign agreements with Guang'an Ruili Trading to purchase 1350 of the model Bestune B30 EV 400. According to the agreements, Taochejun purchased 1350 pure electric vehicle "Bestune B30 EV 400", with a total consideration of ~RMB95M (approximately $14.7M). "We are very happy to cooperate with Ruili again. Taochejun gained a lot of valuable experience from our previous transaction with Ruili. We believe this transaction will further consolidate the long-term cooperative relationship between the two sides. After the integration and resource accumulation of Taochejun in the past few months, the distribution capacity of the platform has been greatly strengthened. We have obtained pre-sale orders for most of the 1350 electric vehicles, and we are confident that the sales will be completed in a short time," said Mr. Xuezhu Wang, CEO.

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Happiness Biotech Group announces $14M electric vehicle transaction with Ruili