CHANGZHOU, China,
Aug. 11, 2021
/PRNewswire/ -- EZGO Technologies Ltd.
(Nasdaq: EZGO) ("EZGO" or "we", "our",
or "the Company"), a manufacturer of two-
and three-wheeled electric vehicles in China, today announced that it has entered
into a strategic cooperation agreement and a tri-parties agreement
with SilverLight Electric Vehicle Inc. (also known as 808 Renewable
Energy Corporation, OTC: RNWR) ("SilverLight"), a Florida-based electric reverse-trike vehicle
and low-speed electric vehicle manufacturer
(www.SilverlightEV.com).
According to the agreement, EZGO will co-manufacture various
types of frames for gyroplane and electric reverse-trike vehicles
which are designed by SilverLight and handle chassis assembly.
Reverse trikes are three-wheeled vehicles, distinguished by their
two front wheels and one rear wheel, and are known to be more
stable and safer than regular trikes and two-wheeled vehicles.
According to the tri-parties agreement, EZGO will start the
trial production phase in late 2021 and the target output is 100
gyroplanes and 2,000 electric reverse trike vehicles by 2022.
Scheduled production will be determined by the market demand and
orders received from Silverlight.
The term of the strategic cooperation agreement is 10 years. It
will be automatically renewed for another 10 years.
Management Commentary
Mr. Jianhui Ye, Chief Executive
Officer of EZGO, stated, "We are very excited to announce the
execution of this strategic cooperation agreement and tri-parties
agreement with SilverLight. We look forward to working closely with
SilverLight to develop our North
America market. We are pleased to have won the support of a
reputable international partner like SilverLight and continue
seeking opportunities to increase our market exposure and grow our
business."
About EZGO Technologies Ltd.
Leveraging an Internet of Things (IoT) product and service
platform and two E-bicycle brands, "Dilang" and "Cenbird", EZGO has
established a business model centered on the manufacturing and sale
of two- and three-wheeled electric vehicles, complemented by the
E-bicycle charging pile business. For additional information,
please visit EZGO's website at www.ezgotech.com.cn. Investors can
visit the "Investor Relations" section of EZGO's website at
http://www.ezgotech.com.cn/Investor/.
Safe Harbor Statement
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may, "will, "intend," "should," "believe," "expect," "anticipate,"
"project," "estimate" or similar expressions that do not relate
solely to historical matters, it is making forward-looking
statements. Forward-looking statements are not guarantees of future
performance and involve risks and uncertainties that may cause the
actual results to differ materially from the Company's expectations
discussed in the forward-looking statements. These statements are
subject to uncertainties and risks including, but not limited to,
the following: the Company's goals and strategies; the Company's
future business development; product and service demand and
acceptance; changes in technology; economic conditions; the growth
of the short-distance transportation solutions market in
China and the other international
markets the Company plans to serve; reputation and brand; the
impact of competition and pricing; government regulations;
fluctuations in general economic and business conditions in
China and the international
markets the Company plans to serve and assumptions underlying or
related to any of the foregoing and other risks contained in
reports filed by the Company with the SEC. For these reasons, among
others, investors are cautioned not to place undue reliance upon
any forward-looking statements in this press release. Additional
factors are discussed in the Company's filings with the SEC, which
are available for review at www.sec.gov. The Company
undertakes no obligation to publicly revise these forward–looking
statements to reflect events or circumstances that arise after the
date hereof.
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SOURCE EZGO Technologies Ltd.