HANGZHOU, China, March 29, 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 March 16, 2022, the
Company, through its wholly-owned subsidiary, Zhejiang Jiuzi New
Energy Vehicles Co., Ltd. ("Zhejiang Jiuzi"), has entered into an
one-year strategic cooperation agreement (the "Agreement") with
Jiangsu Skywell Automobile Co., Ltd. ("Skywell"), the manufacturer
of Skyworth, a leading Chinese electric vehicle.
Skywell's parent company, Skywell New Energy Automobile Group,
is a high-tech enterprise headquartered in Jiangsu Province, which integrates research
and development, production, and sales of new energy passenger
vehicles. Its electric vehicle (EV) brand "Skyworth" is in
partnership with Skyworth Group Co., Ltd., which is one of the top
five television brands in the world with annual TV shipments
exceeding 17 million units. Skywell is also one of the few large
auto groups in China with full
series production qualification of new energy commercial vehicles
and passenger vehicles. In 2019, Skywell New Energy Automobile
Group ranked first in the new energy commercial vehicle industry in
Jiangsu Province.
Pursuant to the Agreement, Zhejiang Jiuzi is granted
non-exclusive right to use Skywell's "Skyworth" trademark and sell
its new EV6 SUV series during 2022-2023. Through Skywell's
preferential sales policies, Zhejiang Jiuzi plans to purchase 500
EVs of both mass-production and customized models. The Skyworth EV6
comes with a full-electric variant with a NEDC-rated range of 600km
(the EV6-600+) and a hybrid electric version with an estimated
range of 1,000km (the EV6-HTi).
Skyworth EV6 model also comes with a number of safety and
driving assistance features, including advanced braking, traction
control, and a higher trim that includes advanced driving tech such
as adaptive cruise control, lane keep assistance, and automatic
emergency braking.
Mr. Shuibo Zhang, CEO of Jiuzi Holdings, Inc., commented: "At
Jiuzi, we believe that the power of electric vehicles is to achieve
carbon neutral, green and sustainable financial growth
simultaneously and prevalently. This year's government work report
explicitly showed that China is
among the leading markets with its stringent 2025 fuel consumption
requirements for passenger vehicles, which supports major updates
for EVs to align with the country's decarbonization mission. That
is why we are committed to this new energy business and have since
formed sales partnerships with leading EV brands around the
country."
"We could not be prouder to form this cooperation. Having one of
our leading EV partners Skywell is a manifestation of what we do
and an effort to validate our mission while expanding our sales
network. Skywell is also an integral partner to Jiuzi, who will
help us localize and further expand our presence with their
advanced EV models and proprietary technologies. We are confident
that this partnership will drive better performance for both and
expand our reach to increase monetization in key markets across
China. We are expecting a
contractual income close to RMB60
million to Jiuzi from this robust collaboration with
Skywell," Mr. Zhang said.
About Jiangsu Skywell Automobile Co., Ltd.
Jiangsu Skywell Automobile Co., Ltd. is a modern high-tech
automobile company specializing in the development, manufacture,
and sales of new energy passenger vehicles. Its parent company,
Skywell New Energy Automobile Group, was founded with RMB200 million in registered capital in 2019. The
parent is headquartered in Nanjing Airport High-tech Industrial
Park and is a high-tech enterprise headquartered in Jiangsu Province, which integrates research
and development, production and sales of new energy passenger
vehicles. It is also one of the few large auto groups in
China with full series production
qualification of new energy commercial vehicles and passenger
vehicles. In 2019, the group ranked first in the new energy
commercial vehicle industry in Jiangsu
Province.
Skywell debuted its first car, mid-sized sport utility vehicle
ET5, in October 2020. The company
plans to launch at least four pure electric Skyworth models between
2020 and 2025. For more information, please visit:
https://www.skyworthev.com/.
About Jiuzi Holdings, Inc.
Jiuzi 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-fourth tier cities in
China. The Company mainly sells
battery-operated electric vehicles, and sources NEVs through 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/.
Forward-Looking Statements
All statements other than statements of historical fact 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 about future
events and financial trends that the Company believes may affect
its financial condition, results of operations, business strategy
and financial needs, including the expectation that the Offering
will be successfully completed. Investors can identify these
forward-looking statements by words or phrases such as "may,"
"will," "expect," "anticipate," "aim," "estimate," "intend,"
"plan," "believe," "potential," "continue," "is/are likely to" or
other similar expressions. The Company undertakes no obligation to
update forward-looking statements to reflect subsequent occurring
events or circumstances, or changes in its expectations, except as
may be 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 turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results in the Company's registration statement and in its
other filings with the SEC.
For more information, please contact:
Janice Wang
EverGreen Consulting Inc.
Email: IR@changqingconsulting.com
Phone: +1 571-464-9470 (from U.S.)
+86
13811768559 (from China)
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SOURCE Jiuzi Holdings, Inc.