Why Battery Manufacturing Company EZGO's Shares Are Soaring Today

EZGO Technologies Ltd EZGO shares are soaring after the company said it entered into a procurement agreement with Hangzhou Huiyu Zhichuang Industrial Co., Ltd (Huiyu Zhichuang).

Huiyu Zhichuang is a subsidiary of Huiyu Holdings Group, a China-based company primarily engaged in the real estate development business.

Under the agreement, EZGO will sell twelve security patrol robots and one intelligent patrol platform for an aggregate sales price of RMB 13.46 million ($1.84 million).

The company has also agreed to complete the delivery and installation of the Products within nine months after the execution of the procurement agreement.

The robot has modern features, including self-navigation, live video streaming, proficient face and license plate detection, vocal notifications, an emergency SOS button, self-charging capabilities, infrared vision, and smart patrol systems.

“The twelve Robots purchased by Huiyu Zhichuang will be used for intelligent security patrols in Huiyu Intelligent Innovation Park, an industrial park in Hangzhou, Zhejiang, China,” said CEO Jianhui Ye.

Price Action: EZGO shares are trading higher by 44.83% at $2.26 on the last check Friday.