Business
EZGO to Co-manufacture Reverse Trike Vehicles with SilverLight
CHANGZHOU, China, Aug. 11, 2021 /PRNewswire/ -- EZGO Technologies Ltd. (Nasdaq: EZGO) ("EZGO" or "we", "our", or "the Company"), a manufacturer of two- and
About this update from Ezgo Technologies Ltd.
[{"type":"text","content":"CHANGZHOU, China, Aug. 11, 2021 /PRNewswire/ -- EZGO Technologies Ltd. (Nasdaq: EZGO) (\"EZGO\" or \"we\", \"our\", or \"the Company\"), a manufacturer of two- and three-wheeled electric vehicles in China, today announced that it has entered into a strategic cooperation agreement and a tri-parties agreement with SilverLight Electric Vehicle Inc. (also known as 808 Renewable Energy Corporation, OTC: RNWR) (\"SilverLight\"), a Florida-based electric reverse-trike vehicle and low-speed electric vehicle manufacturer (www.SilverlightEV.com). \n\nAccording to the agreement, EZGO will co-manufacture various types of frames for gyroplane and electric reverse-trike vehicles which are designed by SilverLight and handle chassis assembly. Reverse trikes are three-wheeled vehicles, distinguished by their two front wheels and one rear wheel, and are known to be more stable and safer than regular trikes and two-wheeled vehicles. \nAccording to the tri-parties agreement, EZGO will start the trial production phase in late 2021 and the target output is 100 gyroplanes and 2,000 electric reverse trike vehicles by 2022. Scheduled production will be determined by the market demand and orders received from Silverlight.\nThe term of the strategic cooperation agreement is 10 years. It will be automatically renewed for another 10 years.\nManagement Commentary\nMr. Jianhui Ye, Chief Executive Officer of EZGO, stated, \"We are very excited to announce the execution of this strategic cooperation agreement and tri-parties agreement with SilverLight. We look forward to working closely with SilverLight to develop our North America market. We are pleased to have won the support of a reputable international partner like SilverLight and continue seeking opportunities to increase our market exposure and grow our business.\"\nAbout EZGO Technologies Ltd.\nLeveraging an Internet of Things (IoT) product and service platform and two E-bicycle brands, \"Dilang\" and \"Cenbird\", EZGO has established a business model centered on the manufacturing and sale of two- and three-wheeled electric vehicles, complemented by the E-bicycle charging pile business. For additional information, please visit EZGO's website at www.ezgotech.com.cn. Investors can visit the \"Investor Relations\" section of EZGO's website at http://www.ezgotech.com.cn/Investor/. \nSafe Harbor Statement\nTh...