Jiuzi Holdings, Inc. reports corporate developments tied to its new energy and electric vehicle business, Southeast Asian commercial vehicle activity, and Digital Asset Treasury framework. Company news has included electric heavy-duty truck initiatives for Vietnam, digital asset investment activity involving the Distributed Capital Intelligence Protocol, crypto-related treasury governance, private placements, and share repurchase authorization.
Recurring updates also cover capital allocation, ordinary-share financing, risk controls for digital asset custody and on-chain processes, and governance changes affecting the Nasdaq-listed foreign private issuer.
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Jiuzi Holdings, Inc. (NASDAQ: JZXN) announces the establishment of two regional operation centers in Jiangxi and Zhejiang Provinces through joint ventures with local partners. These partnerships aim to leverage Jiuzi Haoche's resources in new energy vehicles and credit facilities, while the local partners will handle daily operations and business development. This initiative is part of Jiuzi's 'asset-light' strategy to expand its presence in the new energy vehicle market in China. The company operates 51 franchise stores and one company-owned store, providing a solid foundation for this expansion.
On February 28, 2023, Jiuzi Holdings, Inc. (NASDAQ: JZXN) announced an extension agreement with Chongqing Dongfeng Fengon Automobiles Sales Co., Ltd. for the purchase of 5,000 micro electric passenger cars. The original deadline was extended from December 28, 2022, to June 30, 2023, due to COVID-19-related delays. The agreement also includes trading Jiuyao's newly launched MPV, designed for increased efficiency with an extended-range battery promising up to 351 km. This collaboration is seen as a significant recognition of Jiuzi's market position, reinforcing its strategy to connect automakers with traditional dealerships.
Jiuzi Holdings, Inc. (NASDAQ: JZXN) has announced the launch of its first electric Multi-Purpose Vehicle (MPV), the Jiuyao MPV, customized from Dongfeng Fengon's Fengon 380. Designed for both household and business needs, the Jiuyao MPV offers enhanced space flexibility with foldable seats. In 2023, upgrades will include BYD's advanced swappable blade battery, promising improved safety and longevity. The initial price range is between RMB 100,000 and RMB 200,000, with a potential purchase agreement with DFSK Motor expected by November 2022, contingent on pre-orders.
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Jiuzi Holdings, Inc. (NASDAQ: JZXN) announced a significant strategic agreement with DFSK Motor to deliver 5,000 customized micro electric vehicles, named Jiuyao Mini EV, by the end of 2022. This model, based on the popular Dongfeng Mini EV Candy, features enhancements like a stylish logo, luxurious interiors, and an extended battery range of up to 220 kilometers. The agreement aims to bolster Jiuzi's car rental and ride-hailing business, with preorders received from seven Capital Partners clients. The company plans to expand its customized electric vehicle offerings in collaboration with more manufacturers.