JZXN - Jiuzi Holdings gains on signing strategic agreement with Chongqing Ruichi Automobile Industry

Jiuzi Holdings (JZXN) +7.4% premarket, has inked a strategic cooperation agreement with Chongqing Ruichi Automobile Industry Co., Ltd. ((Ruichi)) on June 25, 2021. Ruichi will supply 500 logistics vehicles to JZXN during the initial term and conduct sales at the company's chain stores.The two companies will jointly build efficient industrial production chain to enhance the development of the new energy vehicle industry. Mr. Shuibo Zhang, CEO of JZXN, commented: "Additionally, among the 97 new energy logistics vehicle enterprises in China, Ruichi is the only one to reach a sales volume of over 10,000 vehicles. Accounting for 17.51% of market sales with 10,165 in vehicle sales, Ruichi is far ahead of any other new energy logistics vehicle enterprises."It is t be noted that JZXN has 31 stores in China, with more than 100 new stores under construction to create a marketing network that covers 34 cities in China.

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Jiuzi Holdings gains on signing strategic agreement with Chongqing Ruichi Automobile Industry