JZXN - Jiuzi stock rises after signing EV contract with WM Motor

Jiuzi Holdings (NASDAQ:JZXN) shares surged over 10% pre-market after the new energy vehicle (NEV) dealership group announced a EV purchase agreement with an authorized sales agent of Shanghai-based automotive firm, WM Motor Technology. Pursuant to the deal, HangzhouZhitongche Technology, an operating entity of Jiuzi (JZXN), will purchase up to 1,000 Weltmeister EVs from the sales agent, with delivery expected to be in the second half of 2022. Over the next three years, Jiuzi expects to order about 5,000 to 8,000 EV cars from the sales agent. Qi Zhang, COO of Jiuzi Holdings, stated: "We feel that this agreement will reinforce the long-term cooperation with WM Motor and enhance Jiuz's supply chain. We also believe our relationship with WM Motor will contribute to our revenue growth in the future and increase our presence in China."

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Jiuzi stock rises after signing EV contract with WM Motor