Jiuzi Holdings, Inc. announced that its wholly owned subsidiary, Jiuzi Haoche (Hangzhou) Automobile Service Co. Ltd., has entered into cooperation agreements with Jiangxi Jiushenshen Technology Co. Ltd. and Zhejiang Zhongcheng New Energy Vehicles Service Co.

Ltd. (collectively named "Local Partners"), 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.

Jiuzi Haoche will provide the JVs with new energy vehicles and credit facilities while the Local Partners will be in charge of day-to-day operations and business development.