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Benzinga

Shivani Kumaresan

Jiuzi Signs Sales Cooperation Contract With Chinese EV Brand Distributor

Jiuzi Holdings Inc (NASDAQ:JZXN) said its wholly-owned subsidiary, Zhejiang Jiuzi New Energy Vehicles Co Ltd, has entered into a sales cooperation agreement with Brilliance Xinri Automobile Sales Co Ltd.
Brilliance Xinri is a brand distributor of electric vehicles (EVs) in China.
Zhejiang Jiuzi will establish a franchise store in Hangzhou City, Zhejiang Province, exclusively for the promotion and sales of the Brilliance Xinri EVs.
Brilliance Xinri will offer training and cover training-related expenses for the franchise store's sales crew.
Zhejiang Jiuzi will first order 24 units of Brilliance Xinri EVs and keep a monthly SKU (stock keeping unit) of 24 Brilliance Xinri EVs during the term of the cooperation.
Price Action: JZXN shares traded lower by 2.50% at $1.56 on the last check Wednesday.

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