Jiuzi Holdings Inc (NASDAQ: JZXN) initials Memo of Purpose with China Petrol Technology

Jiuzi Holdings Inc (NASDAQ: JZXN) has announced that it has signed a memo of purpose with China Petrol Technology (Shenzhen) Limited to mutually shape battery exchange positions and battery organization schemes for electric vehicles (EV) across China. Mr. Shuibo Zhang, Chairman of the company, and Mr. Weizhao Jie, CEO of CPT, joined the ratification formality.

The companies will work on the restructuring of CPT’s present gas station system

According to the agreement, both companies will spend around RMB 500 million in three years (RMB 200 million inside two years in the first stage) on the EV expertise and products submissions. The expenditure will involve a multi-standard EV battery exchange station, battery organization scheme, and software.

JZXN and CPT will also prompt functioning on the streamlining of CPT’s prevailing gas station grid and construct experimental battery interchange stations within the company’s deals grid. In addition, the two organizations plan to modernize and rearrange 300-500 CPT’s gas locations in the next three years.

Zhang, a CEO, Director and Chairman of Jiuzi Holdings, Inc, observed: “We are satisfied to work with CPT on our EV skill and battery modification amenities initiative. Presently, electric vehicles are mostly charged at privately possessed charging sockets or via dispersed power source amenities in China. With the quickly snowballing number of EVs and restricted parking space, changeover to a central fast charging or battery switch station grid becomes dominant.”

Jiuzi Holdings signs a tactical collaboration contract with Hemei Auto Holdings Co. Ltd.

Jiuzi Holdings has announced that its functioning unit Zhejiang Jiuzi New Energy Vehicles Co. Ltd., has arrived into a tactical collaboration arrangement with Hemei (Zhejiang) Auto Holdings Co. Ltd.

Under the agreement, the parties will seek reciprocal improvements via goods partaking to an equally mature smooth logistics scheme and new city logistics trade replicas that swivel spotless, green, benign, and well-organized logistics services amid robust growth openings business. 

Hemei Auto will first transport to Jiuzi New Energy 2,000 intelligent light-weight distribution automobiles, which will be vended through Jiuzi New Energy’s depositories in the Zhejiang province. 

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