HANGZHOU, China, June 22, 2022 /PRNewswire/ — Jiuzi Holdings, Inc. (NASDAQ: JZXN; the “Company”), a franchisor and retailer of new energy vehicles under the “Jiuzi” brand in Chinatoday announced that it has entered into a strategic cooperation (the “Agreement”) with Zhejiang Shuke Automobile Service Co. Ltd. (“Shuke”), one of the major car dealerships in China. The cooperation will be operated by its new subsidiary Hangzhou Jiuyao New Energy Automobile Technology Co. Ltd. (“Jiuyao”).
Under the agreement, Jiuyao is granted a non-exclusive right to engage in the sale of Shuke’s electric cars (EVs), Shuke’s car rental business and financial products. Jiuyao plans to purchase 200 standard and custom models of Shuke electric vehicles between 2022 and 2023. Shuke is willing to provide a credit line of up to 100 million yuan in Jiuyao based on Jiuyao’s financing needs. Under the agreement, Jiuyao will be able to sell Shuke’s electric vehicles directly to end users on car rental platforms such as T3 Mobility, Didi Chuxing, Huolala, Jiuzi Haoche and Zhongche Chuxing, among others.
Situated at Zhejiang provincial capital Hangzhou city, Shuke is mainly engaged in minibus rental, auto parts trade and service, electric vehicle sales and other car-related after-sales services. Shuke’s senior management team also has extensive experience in banking and micro-credit and Shuke has a connection to a network of professional financial and investment institutions, operating as a service platform that connects online to offline services, with a focus on the domestic automotive aftermarket sector. , in accordance with the agreement.
Mr. Shuibo Zhang, CEO of Jiuzi Holdings, Inc., said, “We are delighted to announce a major cooperation with Shuke for our new Jiuyao energy vehicle supply platform. Shuke’s brand, service network and distribution capability are recognized by well-known automakers and vehicle trading companies. We expect fruitful returns from our cooperation with Shuke next year.
About Zhejiang Shuke Automobile Service Co. Ltd.
Created in 2020 with a share capital of 10 million yuanShuke is mainly engaged in the rental of minibuses, auto parts and services, sales of electric vehicles and other car-related after-sales services in China. Shuke now operates in five cities, including NingboJinhua, Taizhou, Huzhou and Shanghai and plans to set up subsidiaries in four other cities in the China during this year.
About Jiuzi Holdings, Inc.
Jiuzi Holdings, Inc., headquartered in Hangzhou, Chinaand established in 2017, franchises and operates retail stores under the “Jiuzi” brand to sell New Energy Vehicles (“NEV”) in third- to fourth-tier cities in China. The Company mainly sells battery electric vehicles and sources NEVs from more than twenty NEV manufacturers. It has 31 operating franchise stores and one company-owned store. For more information, visit the Company’s website at http://www.zjjzxny.cn/.
All statements other than statements of historical facts in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections regarding future events and financial trends that the Company believes could affect its financial condition, results of operations, strategy business and financial needs, including the expectation that the Offer will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “has intention to”, “plans”, “believes”, “potential”, “continues”, “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will prove to be correct, and the Company cautions investors that actual results may differ materially from anticipated results and encourages investors to discuss other factors that could affect its future results in the Company’s registration statement and other filings with the SEC.
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SOURCE Jiuzi Holdings, Inc.