Jiuzi up on deal with Chinese EV manufacturer Jemmell
23/02/2022 13:42
** Shares of China-based new energy vehicles retailer
JZXN.O up 8.8% at $1.84 premarket; set to snap three straight
session of declines, if gains hold
** JZXN signs strategic cooperation agreement with Jiangsu
Jemmell New Energy Vehicle Industry Co Ltd, an electric vehicle
manufacturer in China urn:newsml:reuters.com:*:nPn3XVpbba
** Per agreement, JZXN gets non-exclusive right to sell the
"LINGBOX" series of electric vehicles produced by Jemmell
** JZXN enters the deal through its wholly owned subsidiary
Zhejiang Jiuzi New Energy Vehicles Co Ltd
** Says the collaboration could potentially bring about 60
mln yuan ($9.50 mln) in sales to JZXN
** As of last close, stock had gained ~15% this year
($1 = 6.3145 Chinese yuan renminbi)
(Reporting by Tiyashi Datta in Bengaluru)
((tiyashi.datta@thomsonreuters.com))