HANGZHOU, China, September 9, 2022 /PRNewswire/ — Jiuzi Holdings, Inc. (NASDAQ: JZXN; the “Company”), a leading New Energy Vehicle (NEV) dealership group under the “Jiuzi” brand in Chinatoday announced that its subsidiary Hangzhou Jiuyao New Energy Automobile Technology Co. Ltd. (“Jiuyao”) has entered into a purchase agreement (“Agreement”) with Chongqing Dongfeng Fengguang Automobiles Sales Co., Ltd., a subsidiary of Dongfeng Sokon Motor Co., Ltd. (“DFSK Engine”).
According to the agreement, by the end of 2022, DFSK Motor will deliver 5,000 customized electric micro cars for Jiuyao (“Jiuyao Mini EV”) based on its best-selling model “Dongfeng Mini EV Candy”.. The custom version will be scaled with a combination of visual and performance features including a stylish Jiuyao logo, dazzling wheel hubs, leather car seats, smart remote control function and extended battery life of up to 220 kilometers away, which is rarely installed in A00 category 1 micro electric cars.
Serving as a strategic milestone for JZXN’s car rental and ridesharing business initiatives, Jiuyao provides cost-effective vehicle purchasing services for fleet management companies and ridesharing companies. Jiuyao Mini EV is designed for JZXN’s “Capital Partners” (“CP”) customers who own, manage and trade transportation vehicle assets. The company has by far received pre-orders from seven CP customers.
“We are extremely happy to see our successful debut in the customized electric vehicle market,” said Mr. Shuibo Zhang, CEO of Jiuzi Holdings, Inc. “Our CP customers not only provide transportation vehicles to transportation companies , but also sell or lease vehicles to individual customers as car dealers. Backed by JZXN’s capital strength and professional operation, we plan to work with other electric vehicle manufacturers to launch SUV models and more customized minivans to meet the diverse requirements of our CP customers.
About Jiuzi Holdings, Inc.
Jiuzi Holdings, Inc., headquartered in Hangzhou, Chinaand established in 2017, franchises and operates retail stores under the “Jiuzi” brand to sell New Energy Vehicles (“NEV”) in third- and fourth-tier cities in China. The Company mainly sells battery electric vehicles and sources NEVs from more than twenty NEV manufacturers. It has 51 operating franchise stores and one company-owned store. For more information, visit the company’s website at http://www.zjjzxny.cn/.
All statements other than statements of historical facts in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. They are based on current expectations and projections regarding future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the ‘Offer is carried out. Investors can identify these forward-looking statements by words or phrases such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “has intention to”, “plans”, “believes”, “potential”, “continues”, “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent events, circumstances or changes in its expectations, except as required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that these expectations will prove to be correct. The Company cautions investors that actual results may differ materially from anticipated results and encourages investors to consider other factors that may affect its future results in the Company’s registration statement and other filings with the SEC. .
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SOURCE Jiuzi Holdings, Inc.
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