Jiuzi Holdings Inc. Signs Extension Agreement with Dongfeng Fengon and Plans to Launch Extended Range and Battery-Swapping electric MPV
Pursuant to a purchase agreement ("Purchase Agreement") signed by Jiuyao and Chongqing Fengon dated August 2, 2022, Jiuyao would purchase 5,000 micro electric passenger cars customized for Jiuyao ("Jiuyao Mini EV") from Chongqing Fengon by December 28, 2022.
- Pursuant to a purchase agreement ("Purchase Agreement") signed by Jiuyao and Chongqing Fengon dated August 2, 2022, Jiuyao would purchase 5,000 micro electric passenger cars customized for Jiuyao ("Jiuyao Mini EV") from Chongqing Fengon by December 28, 2022.
- Under the Extension Agreement, the two parties have also agreed that the Purchase Agreement will include the trade of Jiuyao MPV, which was launched in October 2022.
- Jiuyao MPV is custom-made vehicle based on Dongfeng Fengon's MPV model "Fengon 380."
- Since Jiuyao MPV has gained considerable accolades from the market, the Company plans to further launch an upgraded version in the first half of 2023.