Jiuzi Holdings Inc. Enters into a Letter of Intent with subsidiary of Baoneng Auto Group Ltd.
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Monday, June 27, 2022
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HANGZHOU, China, June 27, 2022 /PRNewswire/ -- Jiuzi Holdings, Inc. (NASDAQ: JZXN; the "Company"), a leading new energy vehicle (NEV) dealership group under the brand name "Jiuzi" in China, today announced that its operating entity, Hangzhou Zhitongche Technology Limited ("Zhitongche"), has entered into a Letter of Intent (the "LOI") with Kunshan Baoneng Auto Sales Co., Ltd ("Kunshan Baoneng"), the subsidiary of Baoneng Auto Group Ltd. ("Baoneng Auto").
Key Points:
- HANGZHOU, China, June 27, 2022 /PRNewswire/ -- Jiuzi Holdings, Inc. (NASDAQ: JZXN; the "Company"), a leading new energy vehicle (NEV) dealership group under the brand name "Jiuzi" in China, today announced that its operating entity, Hangzhou Zhitongche Technology Limited ("Zhitongche"), has entered into a Letter of Intent (the "LOI") with Kunshan Baoneng Auto Sales Co., Ltd ("Kunshan Baoneng"), the subsidiary of Baoneng Auto Group Ltd. ("Baoneng Auto").
- Baoneng Auto was established in 2017 by Baoneng Investment Group ("Baoneng Group"), a well-known Chinese property and finance conglomerate.
- Baoneng Group entered the automotive industry aiming to develop new energy vehicles.
- We are confident that Jiuzi will be one of the best distribution partners of Baoneng Auto, and we expect to expand our cooperation to other provinces in China."