Jiuzi Holdings, Inc. announced that, on April 30, 2022, the Company, through its wholly-owned subsidiary Hangzhou Zhitongche Technology Co. Ltd. (“Zhitongche”), has entered into an one-year strategic cooperation agreement (the “Agreement”) with Anji Chuangxing New Energy Auto Sales Co. Ltd. (“Anji Chuangxing”), a Chinese car distributor of Anji Changyou Auto Service Co.

Ltd. (“Anji Changyou”), which is a wholly state-owned electric vehicle (“EV”) maker dedicated to promote the idea of smart and green travel. Pursuant to the Agreement, the two parties will work together to further the development of the EV industry by, for example, promoting innovative formats of travel and sales of EVs, ensuring safe, reliable and commercially viable application of EVs in long distance transportation, building an EV transportation investment system, and improving the efficiency and quality for travel-related services. Anji Chuangxing's target market is Huzhou city, which is one of the first ecological wellness demonstration cities in China with a robust tourism market.

Since Huzhou promotes low-carbon and green travel that commands strong demand for EVs, it is expected to create tremendous business opportunities for the collaboration between Zhitongche and Anji Chuangxing, which will attempt to conduct EV rental services for the first time in Zhejiang Province, specifically targeting the tourism industry.