Press Release

Jiuzi Holdings, Inc. signs a strategic cooperation agreement with Skywell Automobile

Jiuzi Holdings, Inc., a new energy vehicles franchisor and retailer under the brand name “Jiuzi” in China, announced that, on March 16, 2022, the Company, through its wholly-owned subsidiary, Zhejiang Jiuzi New Energy Vehicles Co., Ltd., has entered into an one-year strategic cooperation agreement with Jiangsu Skywell Automobile Co., Ltd., the manufacturer of Skyworth, a leading Chinese electric vehicle.

Skywell’s parent company, Skywell New Energy Automobile Group, is a high-tech enterprise headquartered in Jiangsu Province, which integrates research and development, production, and sales of new energy passenger vehicles. Its electric vehicle (EV) brand “Skyworth” is in partnership with Skyworth Group Co., Ltd., which is one of the top five television brands in the world with annual TV shipments exceeding 17 million units. Skywell is also one of the few large auto groups in China with full series production qualification of new energy commercial vehicles and passenger vehicles. In 2019, Skywell New Energy Automobile Group ranked first in the new energy commercial vehicle industry in Jiangsu Province.

Pursuant to the Agreement, Zhejiang Jiuzi is granted non-exclusive right to use Skywell’s “Skyworth” trademark and sell its new EV6 SUV series during 2022-2023. Through Skywell’s preferential sales policies, Zhejiang Jiuzi plans to purchase 500 EVs of both mass-production and customized models. The Skyworth EV6 comes with a full-electric variant with a NEDC-rated range of 600km (the EV6-600+) and a hybrid electric version with an estimated range of 1,000km (the EV6-HTi).

Skyworth EV6 model also comes with a number of safety and driving assistance features, including advanced braking, traction control, and a higher trim that includes advanced driving tech such as adaptive cruise control, lane keep assistance, and automatic emergency braking.

Mr. Shuibo Zhang, CEO of Jiuzi Holdings, Inc., commented: “At Jiuzi, we believe that the power of electric vehicles is to achieve carbon neutral, green and sustainable financial growth simultaneously and prevalently. This year’s government work report explicitly showed that China is among the leading markets with its stringent 2025 fuel consumption requirements for passenger vehicles, which supports major updates for EVs to align with the country’s decarbonization mission. That is why we are committed to this new energy business and have since formed sales partnerships with leading EV brands around the country.”

“We could not be prouder to form this cooperation. Having one of our leading EV partners Skywell is a manifestation of what we do and an effort to validate our mission while expanding our sales network. Skywell is also an integral partner to Jiuzi, who will help us localize and further expand our presence with their advanced EV models and proprietary technologies. We are confident that this partnership will drive better performance for both and expand our reach to increase monetization in key markets across China. We are expecting a contractual income close to RMB60 million to Jiuzi from this robust collaboration with Skywell,” Mr. Zhang said.

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