Business
Jiuzi Holdings, Inc. Enters into Strategic Cooperation Agreement with Chinese EV Brand Distributor Anji Chuangxing
HANGZHOU, China, May 18, 2022 /PRNewswire/ -- Jiuzi Holdings, Inc. (NASDAQ: JZXN; the "Company"), a new energy vehicles franchisor and retailer under the
About this update from Jiuzi Holdings, Inc.
[{"type":"text","content":"HANGZHOU, China, May 18, 2022 /PRNewswire/ -- Jiuzi Holdings, Inc. (NASDAQ: JZXN; the \"Company\"), a new energy vehicles franchisor and retailer under the brand name \"Jiuzi\" in China, today announced that, on April 30, 2022, the Company, through its wholly-owned subsidiary Hangzhou Zhitongche Technology Co., Ltd. (\"Zhitongche\"), has entered into an one-year strategic cooperation agreement (the \"Agreement\") with Anji Chuangxing New Energy Auto Sales Co. Ltd. (\"Anji Chuangxing\"), a Chinese car distributor of Anji Changyou Auto Service Co. Ltd. (\"Anji Changyou\"), which is a wholly state-owned electric vehicle (\"EV\") maker dedicated to promote the idea of smart and green travel.\nPursuant to the Agreement, the two parties will work together to further the development of the EV industry by, for example, promoting innovative formats of travel and sales of EVs, ensuring safe, reliable and commercially viable application of EVs in long distance transportation, building an EV transportation investment system, and improving the efficiency and quality for travel-related services.\nAnji Chuangxing's target market is Huzhou city, which is one of the first ecological wellness demonstration cities in China with a robust tourism market. Since Huzhou promotes low-carbon and green travel that commands strong demand for EVs, it is expected to create tremendous business opportunities for the collaboration between Zhitongche and Anji Chuangxing, which will attempt to conduct EV rental services for the first time in Zhejiang Province, specifically targeting the tourism industry.\nMr. Shuibo Zhang, CEO of Jiuzi Holdings, Inc., commented: \"Following our strategic tie with leading EV makers such as Geely and Skywell's affiliates, we are committed to advancing our multi-brand strategy and we believe our collaboration with Anji Chuangxing will yield fruitful returns. Anji Chuangxing also intends to provide RMB50-100 million financial facility to support our purchases of diverse brands of EVs in the near future.\"\n\"In addition to continue expanding our distribution across China and penetrating new markets, we are also testing and exploring market opportunities to enter into car-hailing services. JZXN will keep its great momentum to look for partnerships and market opportunities that enable us to leverage our strengths, benefit our business ...