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CLPS Incorporation Signs Framework Agreement with an Emerging Automotive Brand to Provide End-to-End IT Services for its Upcoming Electric Vehicles
HONG KONG, Oct. 28, 2021 /PRNewswire/ -- CLPS Incorporation (the "Company" or "CLPS") (Nasdaq: CLPS), today announced that, through its majority-owned
About this update from Clps Incorporation
[{"type":"text","content":"HONG KONG, Oct. 28, 2021 /PRNewswire/ -- CLPS Incorporation (the \"Company\" or \"CLPS\") (Nasdaq: CLPS), today announced that, through its majority-owned subsidiary, JAJI (Shanghai) Co., Ltd., it has entered into a framework agreement (the \"Agreement\") with an emerging high-end intelligent pure electric car brand in China (the \"Client\") to provide end-to-end IT consulting services for its newly launched electric vehicles (EV). \nThe Client is a new player in the electric vehicle market founded by a leading Chinese state-owned automotive company. It is committed to developing high-end intelligent electric sedan and SUV, of which its flagship model is scheduled for mass-production by the end of 2021. In this cooperation, CLPS will provide a full range of IT consulting services involving technology-powered components and applications for the Client's first and succeeding EVs, including but not limited to electric power system, smart-driving system, intelligent operating system and car owner community operation, among others. In addition, both parties have agreed to jointly promote revolutionized driving experience in the pinnacle of intelligent era.\nMr. Henry Li, Chief Operating Officer of CLPS, said, \"Automotive is one of our four key business areas which has shown significant improvement in the recent years both in business development and financial perspectives. This cooperation is a breakthrough for us in the domestic automotive market, a reflection of our success in pursuing opportunities in the intelligent vehicle market. Moreover, our cooperation with the Client will enable further integration of our core services into the automotive intelligent industry's R&D and manufacturing, as well as to open more doors for innovative applications in the aforementioned sector.\"\nMr. Raymond Lin, Chief Executive Officer of CLPS, commented, \"Our cooperation with the Client will serve as the main driver of our future growth in automotive area. We adhere to our dual-engine growth strategy through continued market penetration to offer IT consulting services across sectors such as in automotive, while constantly innovating our IT solutions built up with cutting-edge technologies. Likewise, we will leverage our global footprint particularly in Asia market to explore such opportunity.\"\nFor the fiscal year ended June 30, 2021, CLPS' r...