Jiuzi Holdings (NASDAQ: JZXN), a new energy vehicles (“NEV”) franchisor and retailer under the brand name Jiuzi in China and its wholly owned subsidiary Zhejiang Jiuzi New Energy Vehicles Co., have entered into an agreement with Jiangsu Skywell Automobile Co. Ltd. Skywell is the manufacturer of Skyworth, a leading Chinese electric vehicle (“EV”). The one-year cooperation agreement grants Zhejiang Jiuzi nonexclusive right to use Skywell’s Skyworth trademark as well as the right to sell Skywell’s EV6 SUV series in 2022 and 2023. Owned by Skywell New Energy Automobile Group, Skywell is a high-tech enterprise working on integrating R&D, production and sales of new energy passenger vehicles and is one of the few large auto groups in China with full series production qualification of new energy commercial vehicles and passenger vehicles. Zhejiang Jiuzi anticipates purchasing 500 EVs, with a mix of mass-production and customized models. “At Jiuzi, we believe that the power of electric vehicles is to achieve carbon neutral, green and sustainable financial growth simultaneously and prevalently,” said Jiuzi Holdings CEO Shuibo Zhang in the press release. “This year’s government work report explicitly showed that China is among the leading markets with its stringent 2025 fuel consumption requirements for passenger vehicles, which supports major updates for EVs to align with the country’s decarbonization mission. That is why we are committed to this new energy business and have since formed sales partnerships with leading EV brands around the country.”
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About Jiuzi Holdings Inc.
Jiuzi Holdings is headquartered in Hangzhou, China, and operates retail stores under the brand name Jiuzi to sell new energy vehicles (“NEVs”) in third-fourth tier cities in China . The company mainly sells battery-operated electric vehicles, and sources NEVs through more than 20 NEV manufacturers. Jiuzi has 31 operating franchise stores and one company-owned store. For more information about this company, visit www.zjjzxny.cn.
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