Business
Jiuzi Holdings Inc. Recruits Five New Franchisees in Guangxi
HANGZHOU, China, July 27, 2022 /PRNewswire/ -- Jiuzi Holdings, Inc. (NASDAQ: JZXN; the "Company"), a leading new energy vehicle (NEV) dealership group under
About this update from Jiuzi Holdings, Inc.
[{"type":"text","content":"HANGZHOU, China, July 27, 2022 /PRNewswire/ -- Jiuzi Holdings, Inc. (NASDAQ: JZXN; the \"Company\"), a leading new energy vehicle (NEV) dealership group under the brand name \"Jiuzi\" in China, today announced that its operating entity, Hangzhou Zhitongche Technology Limited (\"Zhitongche\"), has added five new franchisees in Guangxi Zhuang Autonomous Region (\"Guangxi\"), China since the execution of the regional exclusive agency agreement (the \"Agreement\" with Shanghai Aiways Yiwei Automobiles Sales Co., Ltd. (\"Aiways Yiwei\"), the subsidiary of Aiways Automobiles Company Ltd. (\"Aiways Auto\").\nPursuant to the Agreement, in the first two months of the one-year term, or starting on July 1st, 2022, Zhitongche will establish 12 Aiways experience centers in major cities in Guangxi. Since the signing of the agreement, Zhitongche has made fruitful progress by recruiting five franchisees in Nanning, Liuzhou, Beihai, Guilin, and Yulin, among which three franchisees have paid the franchise fees in full. In the meantime, Zhitongche is also negotiating with 12 potential franchisees who have expressed interest in joining.\n\"I'm extremely proud of the great achievement that our brilliant Guangxi team has made in such a short period. Our success in gaining new franchisees is due to the synergy effect created by the brand awareness of Jiuzi and Aiways\", said Mr. Shuibo Zhang, CEO of Jiuzi Holdings, Inc., \"Our Jiuzi brand is well recognized in Guangxi through our existing 13 franchise stores. By leveraging the additional prestige of Aiways brand, we believe the collaboration with Aiways would accelerate our business expansion in Guangxi. Due to our fast expansion as a result of the collaboration Aiways, we expect to add 13 new franchise stores in Guangxi by the end of this year in addition to the 12 existing ones, adding to a total of 25 new franchise stores in Guangxi in 2022.\"\nAbout Jiuzi Holdings, Inc.\nJiuzi Holdings, Inc., headquartered in Hangzhou, China, and established in 2017, franchises and operates retail stores under the brand name \"Jiuzi\" to sell New Energy Vehicles (\"NEVs\") in third and fourth-tier cities in China. The Company mainly sells battery-operated electric vehicles and sources NEVs through more than twenty NEV manufacturers. It has 51 operating franchise stores and one company-owned store. For more informa...