By Chris Wack
Jiuzi Holdings Inc. shares rose 56% to $2.06 after the company said its Hangzhou Jiuyao New Energy Automobile Technology Co. subsidiary is buying a 72.05% equity interest in Huizhou Jiwo Automobile from Guangdong Huarui Automobile Sales Service Co. Ltd., a subsidiary of Geely Auto Group.
Huizhou, an automobile sales service shop operator, is the sole authorized dealer for Geely's Geometry EVs in Huizhou city in Guangdong province.
It is also a repair center for vehicles participating in online hailing services, and provides integrated auto services such as EV sales and after-sale maintenance.
Huizhou sold more than 1,000 EVs in 2021.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
04-26-22 1002ET