- Jiuzi Holdings Inc JZXN subsidiary Zhejiang Jiuzi has entered into a one-year strategic cooperation agreement with Jiangsu Skywell Automobile Co., a manufacturer of Chinese electric vehicle Skyworth.
- As per the deal, Zhejiang Jiuzi has secured a non-exclusive right to use Skywell's Skyworth trademark and sell its new EV6 SUV series during 2022-2023.
- Zhejiang Jiuzi plans to purchase 500 EVs of both mass-production and customized models through Skywell's preferential sales policies.
- "We are expecting a contractual income close to RMB60 million to Jiuzi from this robust collaboration with Skywell," said Shuibo Zhang, CEO of Jiuzi Holdings.
- Price Action: JZXN shares are trading higher by 7.14% at $1.35 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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