Jiuzi Inks Cooperation Agreement With 'Skyworth' EV Maker Skywell

Jiuzi Holdings Inc (NASDAQ:JZXN) subsidiary Zhejiang Jiuzi has entered into a one-year strategic cooperation agreement with Jiangsu Skywell Automobile Co., a manufacturer of Chinese electric vehicle Skyworth.
As per the deal, Zhejiang Jiuzi has secured a non-exclusive right to use Skywell's Skyworth trademark and sell its new EV6 SUV series during 2022-2023.
Zhejiang Jiuzi plans to purchase 500 EVs of both mass-production and customized models through Skywell's preferential sales policies.
"We are expecting a contractual income close to RMB60 million to Jiuzi from this robust collaboration with Skywell," said Shuibo Zhang, CEO of Jiuzi Holdings.
Price Action: JZXN shares are trading higher by 7.14% at $1.35 on the last check Tuesday.