JZXN - Jiuzi signs strategic cooperation agreement with EV manufacturer in China

Jiuz (NASDAQ:JZXN) through its wholly-owned subsidiary, Zhejiang Jiuzi New Energy Vehicles entered into an one-year strategic cooperation agreement with Jiangsu Jemmell New Energy Vehicle Industry, Chinese electric vehicle maker and battery assembler. Post the agreement, Zhejiang Jiuzi is granted non-exclusive right to sell the "LINGBOX" series electric vehicles produced by Jemmell during 2022-2023. Zhejiang Jiuzi plans to purchase up to 5K  vehicles from both mass-production models and customized models from Jemmell. The two parties will also work proactively to propose new initiatives to implement their respective strategic plans, fulfill business goals, and achieve win-win business results. "Our collaboration has a great deal of upside and could potentially bring about RMB60M sales to our company. We expect this to be another important growth driver for our business," CEO Mr. Shuibo Zhang commented. JZXN trades 9.5% higher premarket.

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Jiuzi signs strategic cooperation agreement with EV manufacturer in China