Jiuzi Holdings Signs Purchase Agreement with DFSK Motor

Jiuzi Holdings, Inc. announced that its subsidiary Hangzhou Jiuyao New Energy Automobile Technology Co. Ltd. (Jiuyao) has entered into a purchase agreement with Chongqing Dongfeng Fengguang Automobiles Sales Co., Ltd., a subsidiary of Dongfeng Sokon Motor Co., Ltd. (DFSK Motor).

Pursuant to the Agreement, by the end of 2022, DFSK Motor will deliver 5,000 micro electric passenger cars customized for Jiuyao (Jiuyao Mini EV) based on its best-selling model 'Dongfeng Mini EV Candy'. 

The customized version will be upscaled with a combination of visual and performance characteristics including a stylish Jiuyao logo, dazzling wheel hubs, leather car seats, smart remote control function, and an extended battery range for up to 220 kilometers, which is rarely installed in A00-class micro electric passenger cars.

Serving as an important strategic move for JZXN's car rental and ride-hailing business initiatives, Jiuyao provides cost-effective vehicle procurement services for fleet management companies and ride-hailing companies.

Jiuyao Mini EV is designed for JZXN's 'Capital Partners' (CP) clients who own, manage, and trade ride-hailing vehicle assets. The company has received preorders from seven CP clients by far.

"We are extremely pleased to see that our debut in the customized EV market is successful," said Mr. Shuibo Zhang, CEO of Jiuzi Holdings, Inc. "Our CP clients not only supply ride-hailing companies with transport vehicles, but also sell or rent vehicles to individual customers as car dealers. Supported by JZXN's capital strength and professional operation, we plan to work with other EV manufacturers to launch more customized SUV and MPV models in order to meet our CP clients' diversified requirements."