HANGZHOU, China, Oct. 10,
2022 /PRNewswire/ -- Jiuzi Holdings, Inc.
(NASDAQ: JZXN; the "Company"), a leading new energy vehicle (NEV)
dealership group under the brand name "Jiuzi" in China, today announced that its subsidiary,
Hangzhou Jiuyao New Energy Automobile Technology Co. Ltd.
("Jiuyao") is launching its first electric Multi-Purpose Vehicle
(MPV) customized by Dongfeng Fengon ("Jiuyao MPV"), a sub-brand of
Dongfeng Sokon Motor Co., Ltd. ("DFSK Motor").
Jiuyao MPV will be custom-made based on Dongfeng Fengon's
MPV model "Fengon 380" to cater to the needs of customers buying
vehicles for household uses and business uses. Compared to its base
model, the customized version allows bigger and more flexible space
as all passenger seats can be folded flat. In 2023, the Company
plans to further upgrade Jiuyao MPV by installing swappable BYD's
state-of-the-art blade battery, which holds notable advantages in
its high safety, long-range, enduring longevity, ultra strength,
and high power compared with ternary lithium batteries and
traditional lithium iron phosphate batteries. Moreover, due to its
optimized battery pack structure, the space utilization rate of the
battery pack is increased by over 50% compared to conventional
lithium iron phosphate block batteries. JZXN will collaborate with
its strategic business partner to provide battery-swap technology
and battery-swap stations that match Jiuyao MPV.
"Since our first customized Jiuyao mini EV has been well
received by our customers, we strongly believe Jiuyao MPV would be
another successful product of our cooperation with DFSK Motor,"
said Mr. Shuibo Zhang, CEO of Jiuzi Holdings, Inc.
"We are confident that our Jiuyao MPV will be
one of the best cost-performance electric MPVs in the market with a
price range from RMB100,000 to
RMB 200,000. We expect to enter into
a purchase agreement with DFSK Motor in November 2022 if we receive substantial amount of
pre-orders."
About Dongfeng Fengon
Dongfeng Fengon (or Fengguang) is a passenger car
sub-brand under Dongfeng Sokon Motor Co., Ltd.("DFSK Motor")
committed to building a passenger car brand with all categories of
MPVs and SUVs. It currently has six SUV models: Fengon 500, Fengon
580 Red Star Edition, Fengon 580 Pro, Fengon ix5, Fengon ix7 and
Fengon S560, as well as three MPV models, Fengon
330，Fengon 330S and Fengon 380. For more
information, visit the Company's website at
https://www.dffengguang.com.cn.
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 and fourth-tier
cities in China. The Company
mainly sells battery-operated electric vehicles and sources NEVs
through more than twenty NEV manufacturers. It has 51 operating
franchise stores and one company-owned store. For more information,
visit the Company's website at
http://www.zjjzxn.com .
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. They 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 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 events, 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. 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 its
other filings with the SEC.
For more information, please contact:
Stephen
Tong
Email: jiuzi@mana-ir.com
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SOURCE Jiuzi Holdings, Inc.