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Benzinga
Benzinga
Business
Shivani Kumaresan

Jiuzi Inks Cooperation Agreement With 'Skyworth' EV Maker Skywell

Nasdaq
  • Jiuzi Holdings Inc (NASDAQ: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.
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