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Benzinga
Benzinga
Business
Shivani Kumaresan

Jiuzi Inks Strategic Cooperation Agreement With Shanghai Zhongtongji E-Commerce

  • Jiuzi Holdings Inc (NASDAQ:JZXN) subsidiary, Zhejiang Jiuzi New Energy Vehicles Co Ltd, has recently entered into a two-year strategic cooperation agreement with Shanghai Zhongtongji E-Commerce Co Ltd.
  • Zhongtongji is a domestic E-Commerce and retail services provider founded by senior management of ZTO Express (Cayman) Inc (NYSE:ZTO).
  • Under the agreement, Zhejiang Jiuzi and Zhongtongji will jointly explore application of new energy delivery vehicles to promote the idea of green logistics. Zhejiang Jiuzi will sell and rent new energy delivery vehicles to Zhongtongji.
  • "This partnership represents our first step into the E-Commerce industry and we aim to keep expanding such tie-up in E-Commerce logistics segment in the future," said Shuibo Zhang, CEO of Jiuzi Holdings.
  • Price Action: JZXN shares are trading higher by 5.40% at $1.39 on the last check Tuesday.
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