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Addentax Group Corp. Launches Strategic Negotiations with Xianglilai for Advanced Lithium Battery Integration in Logistics and Autonomous New Energy Vehicles
SHENZHEN, China, Sept. 5, 2023 /PRNewswire/ -- Addentax Group Corp. ("Addentax" or the "Company") (Nasdaq: ATXG), an integrated service provider focusing on
About this update from Addentax Group Corp.
[{"type":"text","content":"SHENZHEN, China, Sept. 5, 2023 /PRNewswire/ -- Addentax Group Corp. (\"Addentax\" or the \"Company\") (Nasdaq: ATXG), an integrated service provider focusing on garment manufacturing, logistics services, property management, and subleasing, has initiated preliminary discussions with Xianglilai Technology Co., Ltd (\"Xianglilai\"), a Chinese company involved in lithium battery research & development (\"R&D\"), manufacturing, and operations. These discussions align with Addentax's commitment to its recent venture with Auto City (Shenzhen) Autonomous Driving Co., Ltd. Dated on or around June 6, 2023, focused on artificial intelligence (\"AI\") cloud-based Level 4 (\"L4\") Autopilot R&D.\nXianglilai is recognized as an \"Internet-of-Things + Internet + New Energy\" technology company, with core activities encompassing lithium battery R&D, manufacturing, and operations. The company holds a substantial portfolio of over 100 patents within China and maintains strategic partnerships with industry leaders.\nThrough this potential collaboration, Addentax aims to enhance its logistics operations with advanced lithium battery technology, promoting sustainability and efficiency. Xianglilai's battery sharing services, available in many major Chinese cities, ensure timely deliveries with fully charged batteries, aligning perfectly with the global trend toward sustainability. Moreover, this potential partnership also complements Addentax's commitment to advancing battery technology for autonomous new energy vehicles.\nAbout Addentax Group Corp. Corp.\nAddentax Group Corp. Corp. is an integrated service provider specializing in garment manufacturing, logistics services, and property management and subleasing. For more information about the Company, please visit the website: https://www.addentax.com/.\nCaution Concerning Forward Looking Statements\nAll statements other than statements of historical fact in this announcement are forward-looking statements in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Words or ph...