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Happiness Biotech Entered Into Electric Vehicle Distribution Agreement With Geely's Subsidiary
NANPING, China, June 10, 2021 /PRNewswire/ -- Happiness Biotech Group Limited (the "Company" or Nasdaq: HAPP), an innovative China-based nutraceutical and
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[{"type":"text","content":"NANPING, China, June 10, 2021 /PRNewswire/ -- Happiness Biotech Group Limited (the \"Company\" or Nasdaq: HAPP), an innovative China-based nutraceutical and dietary supplements producer and e-commerce services provider, announced today that Taochejun (Fujian) Automobile Distribution Co., Ltd. (\"Taochejun\"), a subsidiary of the Company in China, has entered into a distribution agreement with Zhejiang Fengsheng Automobile Sales Co., Ltd (\"Maple Auto\"), a wholly owned subsidiary of Geely Technology Group Co., Ltd., or Geely, to distribute electric vehicles under the brand \"Maple\" .\nAccording to the distribution agreement, Taochejun will become the sales agent for \"Maple 80V\" in Ningbo City and Hangzhou City. The minimum sales target for the six months ended December 31, 2021 is 200 vehicles. Maple Auto will provide complete after-sales service and technical support. Taochejun is an upgraded version of Happy Auto. The Company has redesigned and upgraded its auto Business Unit, which was initially under the brand name of \"Happy Auto\", including the brand logo, marketing campaign and the future planning, etc. Taochejun will replace Happy Auto as the unified brand of the Company's Auto Business Unit in the future. The Company has registered the trademark of Taochejun in China and launched the WeChat App of Taochejun in May 2021. Taochejun will fully inherit the resources and mission of Happy Auto, and further strengthen the sales and service of new and used cars, especially new energy vehicles.\n\"We are very happy to cooperate with Maple Auto and reach an agreement regarding distribution of Maple automobiles. As a wholly-owned subsidiary of Geely, Maple Auto has strong technical support and industry influence. We believe that our cooperation will achieve good results. We also have very high hopes for Taochejun, as the upgraded version of Happy Auto, it will have more layout in the field of new energy vehicles. At present, we are still discussing cooperation with more manufacturers and large distributors to further expand our client base. We believe that with the growth of our platform, we will gain more attraction and trust from our clients in the future,\" said Mr. Xuezhu Wang, CEO of the Company.\nAbout Happiness Biotech Group Limited\nHeadquartered in Nanping, China, Happiness Biotech Group Limited has two business segme...