MingZhu Logistics Reaches
Major Next Gen Fuel Transport Cooperation
Agreement
SHENZHEN, China, Dec. 23,
2022 /PRNewswire/ -- MingZhu Logistics Holdings
Ltd. (NASDAQ: YGMZ) (the "MingZhu" or "Company")
announced a major next gen fuel transport cooperation, under
which it will deploy 700 new generation hydrogen fuel cell
vehicles. On December 21, 2022,
Mingzhu entered into a Letter of Intent (the "LOI") with Shenzhen
Kameng Automobile Sales and Services Co., Ltd. (the "Kameng"), an
authorized dealer of Dongfeng Liuzhou Automobile Co., Ltd. (the
"Dongfeng Liuzhou"). Based on the LOI, Mingzhu shall purchase 700
hydrogen fuel cell vehicles from Kameng and the vehicles shall be
delivered from May 5, 2023 to
October 5, 2023. This LOI is an
important step to execute the strategic agreement entered among and
between Mingzhu, Shenzhen National Hydrogen New Energy Technology
Co., Ltd (the "National Hydrogen") and Dongfeng Liuzhou on
October 20, 2022. According to the
strategic cooperation agreement, the companies will jointly work
together to help drive the high-quality development of the hydrogen
fuel cell energy industry in Yantian District, including the
realization of the "double carbon" goal, with port logistics,
sanitation, cold chain logistics, and more in China's global marine center
city.
The Company, National Hydrogen and Dongfeng Liuzhou are
committed to leveraging their respective expertise, business
platforms, networks and resources spanning from port and cold chain
logistics, through hydrogen fuel cell applications, including
commercial and consumer vehicles. Using the hydrogen fuel cell
vehicle scenario application as the starting point, the three
companies explored a new cooperation model for hydrogen fuel cell
vehicles, under which MingZhu will deliver and operate of 700
hydrogen fuel cell vehicles by the end of 2023 across its existing
logistics transportation network. This includes cold chain cargo
transportation distributed across cities in the Pearl River Delta
region, bulk cargo transportation in Xinjiang region and port
container transportation at Yantian Port Terminal.
Mr. Jinlong Yang, Chairman and
Chief Executive Officer of MingZhu Logistics Holdings Limited,
commented, "The importance of supply chain and fuel security
reached a critical level during the pandemic. Our customers are
making strategic decisions to add optionality into their logistics
networks as they seek to derisk the high prices and volatility of
traditional gas and diesel. Hydrogen fuel cells have a significant
potential to be the alternative our customers want, and by
partnering with two leaders in the space we will be able to
accelerate our timeline, while reducing the otherwise costly
R&D investment required. We view this as a win win win for
MingZhu, our customers and our partners."
About Dongfeng Liuzhou Automobile Co., Ltd (the "Dongfeng
Liuzhou")
Dongfeng Liuzhou, founded in 1954, is a holding subsidiary of
Dongfeng Motors Group (Dongfeng Group, HK stock Code:00489), a
national large-scale first-class enterprise. In 1969, it entered
the field of automobile production. It was the first automobile
manufacturer in Guangxi, the first
medium-sized diesel truck manufacturer in China, and the first batch of "National
Complete Vehicle Export Base Enterprises" in China. It is a mainstream commercial vehicle
manufacturer in China.
About Shenzhen National Hydrogen New Energy Technology Co., Ltd.
(the "National Hydrogen")
National Hydrogen is the first enterprise in Shenzhen to commercialize hydrogen fuel cell
vehicles in batches. Committed to the research of hydrogen fuel
cell technology, research and development of hydrogen power system
and industrialization, it is a national high-tech enterprise with
core technologies for innovation. National Hydrogen has a hydrogen
fuel cell research institute, a hydrogen fuel cell application and
development center, an engineering testing center and a technical
service center have been set up in Shenzhen, and an Asia Pacific hydrogen and fuel cell basic
technology research and development center was established in
Taiwan. A series of fuel cell
engine products of 30KW-135KW with subsidized intellectual property
rights have been developed and completed, and a number of hydrogen
fuel models have been developed in cooperation with a number of
domestic vehicle manufacturers and have been acknowledged by the
Ministry of Industry and Information Technology of China.
About MingZhu Logistics Holdings Limited (NASDAQ:
YGMZ)
Established in 2002 and headquartered in Shenzhen, China, MingZhu Logistics Holdings
Limited is a 4A-rated professional trucking service provider. Based
on the Company's regional logistics terminals in Guangdong Province, MingZhu Logistics Holdings
offers tailored solutions to our clients to deliver their goods
through our network density and broad geographic coverage across
the country by a combination of self-owned fleets tractors and
trailers and subcontractors' fleets. For more information, please
visit ir.szygmz.com.
Forward-Looking Statements
The statements in this press release regarding the Company's
future expectations, plans and prospects constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include statements
regarding plans, goals, objectives, strategies, future events,
expected performance, assumptions and any other statements of fact
that have not occurred. Any statements that contain the words
"may", "will", "want", "should", "believe", "expect", "anticipate",
"estimate", "calculate" or similar statements that are not factual
in nature are to be considered forward-looking statements. Actual
results may differ materially from historical results or from those
expressed in these forward-looking statements as a result of a
variety of factors. These factors include, but are not limited to,
the Company's strategic objectives, the Company's future plans,
market demand and user acceptance of the Company's products or
services, technological advances, economic trends, the growth of
the trucking services market in China, the Company's reputation and brand, the
impact of industry competition and bidding, relevant policies and
regulations, fluctuations in China's macroeconomic conditions, and the
risks and assumptions disclosed in the Company's reports provided
to the CSRC (China Security Regulatory Commission) For these and
other related reasons, we advise investors not to place any
reliance on these forward-looking statements, and we urge investors
to review the Company's relevant SEC filings for additional factors
that may affect the Company's future results of operations. The
Company undertakes no obligation to publicly revise these
forward-looking statements subsequent to the filing of these
documents as a result of changes in particular events or
circumstances.
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SOURCE MingZhu Logistics Holdings Limited