CHANGZHOU,
China, Dec. 3, 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 an affiliate company of the Company's PRC subsidiary
has entered into an operation agreement with the Tancheng local
administration in Linyi City, Shandong
Province, whereby EZGO has exclusive rights to operate
e-bicycle sharing services, providing up to 3,000 e-bicycles for
bike-sharing purposes in the Tancheng local area. The term of this
agreement is three years commencing from November 9, 2021 to November 8, 2024.
Following the launch of its e-bicycle sharing services in
Tancheng, EZGO anticipates expanding its bike-sharing business into
cities in southern Shandong (Linyi
City), planning to serve a population of more than 800
thousand.
EZGO's integrated management platform of "bicycles + batteries +
Internet" supports real-time control functions of electric
bicycles, lithium batteries, on-board instruments and central
controllers, improving the overall user experience and safety of
e-bicycle sharing customers.
Management Commentary
Mr. Jianhui Ye, Chief Executive
Officer of EZGO, stated, "We are very excited to announce the
signing of the operation agreement with Tancheng, which enables
EZGO to begin operating e-bicycle sharing services in the local
area. We believe our foray into the e-bicycle sharing business will
help accelerate the growth of our market share in short-distance
transportation offerings given our differentiated portfolio of
quality products and cutting-edge applied technologies. The Company
will continue to explore new business opportunities in
bike-sharing."
Mr. Ye added, "Over the next five years, major platforms such as
Meituan, Haluo are expected to continue promoting the
deployment of e-bicycle sharing services, which presents a
significant opportunity for the Company who has been a provider of
premium-quality electric vehicles with an established foothold in
the industry since its incorporation. In third- and fourth-tier
cities, the penetration rate of e-bicycle sharing is anticipated to
maintain a trend of rapid growth. According to Forward Research
Department, the total number of shared e-bicycles deployed in 2025
is estimated to exceed 8 million, with a compound annual growth
rate of 41% from 2019 to 2025."
About EZGO Technologies Ltd.
Leveraging an Internet of Things (IoT) product and service
platform and three E-bicycle brands, "EZGO", "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 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.
For more information, please contact:
At the Company:
Shawn Wen
Email: ir@ez-go.com.cn
Phone: (+86) 13502829216
Investor Relations:
Carolyne Sohn
The Equity Group Inc.
Email: csohn@equityny.com
Phone: (415) 568-2255
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SOURCE EZGO Technologies Ltd.