HANGZHOU, China, March 13,
2023 /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 wholly owned
subsidiary, Jiuzi Haoche (Hangzhou) Automobile Service Co. Ltd. ("Jiuzi
Haoche"), has entered into cooperation agreements ("Agreements")
with Jiangxi Jiushenshen Technology Co. Ltd. and Zhejiang
Zhongcheng New Energy Vehicles Service Co. Ltd. (collectively named
"Local Partners"), respectively, to set up operation centers in
Jiangxi Province and Zhejiang Province.
Pursuant to the Agreements, Jiuzi Haoche and the Local Partners
will establish joint ventures ("JVs") in Jiangxi Province and Zhejiang Province, respectively. As the
regional operations hubs, the JVs will integrate the strengths,
resources, and skills of Jiuzi and the Local Partners to explore
the local markets. Jiuzi Haoche will provide the JVs with new
energy vehicles and credit facilities while the Local Partners will
be in charge of day-to-day operations and business development.
"We are delighted to celebrate the establishment of two regional
operations centers," said Mr. Shuibo Zhang, CEO of Jiuzi Holdings,
Inc. "This is the debut of our newly launched subsidiary, Jiuzi
Haoche, which was built to implement Jiuzi's "asset-light"
strategy. Jiuzi Haoche focuses on empowering the regional
operations centers by leveraging Jiuzi's advantages in vehicle
sourcing while leaving the daily operation and market exploration
to the Local Partners. We believe this new "asset-light" strategy
will accelerate Jiuzi's pace to become one of the leading NEV
dealers in China."
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.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. 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
View original
content:https://www.prnewswire.com/news-releases/jiuzi-holdings-inc-establishes-two-regional-operations-centers-by-forming-jvs-with-local-partners-301769636.html
SOURCE Jiuzi Holdings, Inc.