EZGO Technologies signs agreement with Autotrax.ai and Zhejiang Hengyuan

EZGO Technologies (EZGO) announced the signing of a Strategic Investment and Industrial Cooperation Framework Agreement among EZGO, Autotrax.ai and Zhejiang Hengyuan Machinery Co. The three parties will integrate their complementary and non-overlapping core capabilities to create a vertically integrated “lithium battery pack + smart EV control + autonomous driving” commercial vehicle solution purpose-built for the U.S. market. All co-developed vehicles are expected to be assembled at Autotrax.ai’s California facility, supporting localized U.S. assembly requirements for commercial fleet deployment and procurement opportunities. The three-party alliance aims to launch all-weather autonomous logistics commercial vehicles in the U.S. market in the first half of 2027, targeting rapidly growing commercial logistics and intelligent transportation segments in North America. Strategic Investment Under the Agreement, EZGO proposes to make a strategic equity investment in Autotrax.ai, with the specific amount and valuation to be determined in a definitive agreement. Proceeds from the investment are expected to support expansion of Autotrax.ai’s U.S. assembly line, introduction of lithium battery testing capabilities, engineering scale-up and customer validation, and compliance restructuring in preparation for a potential future U.S. capital markets transaction. Upon completion of the proposed investment, EZGO is expected to have the right to appoint one director to Autotrax.ai’s board.