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Happiness Biotech Signed Agreement To Distribute Volkswagen Electric Vehicles
NANPING, China, June 14, 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 14, 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 signed an agreement with Guang'an Ruili Trading Co., Ltd (\"Ruili\") to jointly purchase and sell 1213 Volkswagen electric vehicles.\nAccording to the agreement, Taochejun and Ruili will jointly purchase 1213 pure electric vehicle \"e-Bora\", with a total consideration of RMB90.12 million (approximately $14.10 million). Ruili is a large auto trading company in Sichuan Province, China, which has a wide range of business relationships and social resources in Sichuan.\n\"We are very happy to work with Ruili on this transaction. As a newly established brand, Taochejun has achieved rapid development through cooperation with large auto trading groups such as Geely Technology Group Co., Ltd. (\"Geely\") and Ruili. With the help of Ruili, we got more than 1000 Volkswagen pure electric vehicles at a very friendly price, which not only gives an actual discount to the users of Taochejun , but also further strengthens the ability of Taochejun to obtain high-quality vehicles and attract more customers 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 segments: nutraceutical and dietary supplements and e-commerce. The nutrition and dietary supplements business is focusing on the research, development, manufacture and marketing of various products made from Chinese herbal extracts and other ingredients. Over the past 17 years, we have established a product portfolio consisting of 32 PRC National Medical Products Administration registered \"Blue-Cap\" SKUs of nutraceutical and dietary supplements products. Our e-commerce business focuses on providing e-commerce solutions and services for small and medium-sized enterprises. Our mission for the e-commerce segment is to constantly enable small and medium-sized enterprises to fully leverage the power of e-commerce to grow rapidly. For more information, please visit: www.happ.org.cn\nForward-Looking Statements\nThis press re...