EZGO Announces Receipt of Over 1 Million RMB International Order for its E-Bicycles

Rhea-AI Summary

EZGO Technologies Ltd. (Nasdaq: EZGO) has announced a significant order for e-bicycles valued at over 1.1 million RMB for distribution in Ukraine. The order includes 'Dilang' brand e-mopeds and tricycles, with expected delivery by early April. Additionally, the company plans to trial high-speed e-motorcycles in Thailand. CEO Jianhui Ye noted growing demand for their products both in China and neighboring countries, emphasizing efforts to enhance brand recognition abroad and expand their product portfolio.

Positive

• Received an order worth over 1.1 million RMB for e-bicycles in Ukraine.
• Plans to trial high-speed e-motorcycles in Thailand, indicating expansion into new markets.
• Growing demand for products in China and neighboring countries.

Negative

• None.

JIANGSU, China, April 1, 2021 /PRNewswire/ -- EZGO Technologies Ltd. (Nasdaq: EZGO) ("EZGO" or "the Company), a leading short-distance transportation solutions provider in China, today announced an electronic bicycle ("e-bicycle") order worth over 1.1 million RMB for distribution and usage in Ukraine. This order from Ukraine includes the purchase of "Dilang" brand light electric motor scooters ("e-mopeds") and electric tricycles. EZGO expects to deliver the e-bicycles to its customer by early April.

In addition, the Company has received an order for high-speed electric motorcycles ("e-motorcycles") from Thailand. EZGO plans to export initial prototypes to Thai agents. EZGO is currently getting started with the trial production and sales of high-speed e-motorcycles under the "Dilang" brand.

Mr. Jianhui Ye, Chief Executive Officer, stated, "We have seen accelerating demand both within China and in adjacent nations for our Dilang and Cenbird e-bicycle and e-motorcycle. We are pleased to have received this order and look forward to increasing our brand recognition outside of China. We continue to display new models at international exhibitions, while expanding our product portfolio with the development of new e-bicycle models."

About EZGO Technologies Ltd.

Leveraging an Internet of Things (IoT) product and service platform and two e-bicycle brands, "Cenbird" and "Dilang," EZGO has established a business model centered on the manufacturing and sale of electronic bicycles and batteries and e-bicycle rentals, complemented by battery cell trading and a charging pile business. Currently, the Company (i) designs, manufactures, rents and sells e-bicycles and e-tricycles; (ii) rents and sells lithium batteries; and (iii) sells, franchises and operates smart charging piles for e-bicycles and other electronic devices.

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:
Adam Prior
The Equity Group Inc.
Email: aprior@equityny.com 
Phone: (212) 836-9606

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SOURCE EZGO Technologies Ltd.

FAQ

What is the significance of EZGO's recent e-bicycle order in Ukraine?

EZGO received an e-bicycle order worth over 1.1 million RMB for distribution in Ukraine, highlighting international market expansion.

What types of vehicles are included in the recent order announced by EZGO?

The order includes 'Dilang' brand e-mopeds and electric tricycles.

When does EZGO expect to deliver the e-bicycles to Ukraine?

EZGO expects to deliver the e-bicycles by early April.

What are EZGO's plans for high-speed electric motorcycles?

EZGO plans to trial high-speed electric motorcycles in Thailand and export initial prototypes to Thai agents.

How is EZGO expanding its brand recognition internationally?

EZGO aims to increase brand recognition by showcasing new models at international exhibitions and expanding its product portfolio.