Jiuzi Holdings establishes two regional operations centers

Jiuzi announced that its wholly owned subsidiary, Jiuzi Haoche Automobile Service, has entered into cooperation agreements with Jiangxi Jiushenshen Technology and Zhejiang Zhongcheng New Energy Vehicles Service, respectively, to set up operation centers in Jiangxi Province and Zhejiang Province. Pursuant to the Agreements, Jiuzi Haoche and the Local Partners will establish joint ventures in Jiangxi Province and Zhejiang Province, respectively. As the regional operations hubs, the JVs will integrate the strengths, resources, and skills of Jiuzi and the Local Partners to explore the local markets. "We are delighted to celebrate the establishment of two regional operations centers," said Mr. Shuibo Zhang, CEO of Jiuzi Holdings, Inc. "This is the debut of our newly launched subsidiary, Jiuzi Haoche, which was built to implement Jiuzi’s "asset-light" strategy. Jiuzi Haoche focuses on empowering the regional operations centers by leveraging Jiuzi’s advantages in vehicle sourcing while leaving the daily operation and market exploration to the Local Partners. We believe this new "asset-light" strategy will accelerate Jiuzi’s pace to become one of the leading NEV dealers in China."