Nature's Miracle Holding Inc. signs MOU with ZO Motors North America to Expand Electric Vehicle Presence in South America

Rhea-AI Summary

Nature's Miracle Holding Inc. (OTC PINK: NMHI) has signed a non-binding Memorandum of Understanding (MOU) with ZO Motors North America to enhance emergency response capabilities and expand its electric vehicle presence in South America. The agreement outlines plans for Nature's Miracle to purchase 80 ambulances (60 basic and 20 advanced) from ZMNA and collaborate on delivering up to 2,000 EVs to the Colombian market.

This MOU follows Nature's Miracle's recent purchase order from the National Transport Chamber of Colombia for up to 2,000 EVs, announced on January 23, 2025. The company had previously revealed plans in October 2024 to order electric trucks for conversion into mobile vertical farms.

Positive

• Potential purchase agreement for 80 specialized ambulances
• Collaboration opportunity for delivery of up to 2,000 EVs in Colombia
• Expansion into South American EV market through established partner

Negative

• MOU is non-binding with no guaranteed execution
• Financial terms of potential deals not disclosed

Insights

Market Expansion Strategist

The MOU with ZO Motors marks a calculated expansion into South America's rapidly evolving EV market, but investors should approach this development with measured optimism. While the potential deal encompasses 80 specialized ambulances and up to 2,000 EVs for Colombia, several critical factors warrant attention.

The South American EV market presents substantial growth potential, with Colombia specifically targeting 600,000 EVs on its roads by 2030. However, Nature's Miracle's rapid diversification from vertical farming into EVs, bitcoin mining and data centers raises questions about focus and execution capability. The company's market cap of $1.84 million appears modest relative to the scale of these ambitious projects.

Key considerations for investors include:

• The non-binding nature of the MOU provides certainty about deal execution
• The company's rapid expansion into multiple unrelated sectors (farming, EVs, crypto) suggests potential strategic overreach
• Competition from established EV manufacturers in South America, including BYD and Tesla, could impact market penetration
• The financial requirements for executing such large-scale projects remain unclear

While the Colombian market opportunity is significant, the company's ability to secure financing and execute on these ambitious plans will be crucial. The transformation from a vertical farming technology company to a multi-sector player requires substantial capital and operational expertise that must be demonstrated to investors.

ONTARIO, Calif., Feb. 11, 2025 /PRNewswire/ -- Nature's Miracle Holding Inc. (OTC PINK: NMHI) ("Nature's Miracle" or the "Company"), a leader in vertical farming technology and with new subsidiaries operating in bitcoin mining, data center management and electric vehicles, today announced that the Company has entered into a non-binding Memorandum of Understanding (the "MOU") with ZO Motors North America LLC ("ZMNA"), a North American affiliate of ZO Motors, a global leader in innovative zero-emission vehicles. The purpose of the MOU is to develop a working relationship between the parties to enhance emergency response and pre-hospital medical care capabilities for public health institutions while accelerating in Nature's Miracle's expansion into the electric vehicles (EVs) market in South America.

The MOU acts as a foundation for future collaborative efforts on several potentially high-impact projects, including the Nature's Miracle Mobile E-Farm Project, the Colombia Bus Project and other potential EV initiatives in Colombia. If definitive documents are entered into, (i) Nature's Miracle would purchase 60 basic ambulances and 20 advanced ambulances from ZMNA, with specifications to be mutually agreed upon by both parties, and (ii) the two companies will collaborate on the delivery of up to 2,000 EVs, including electric buses, to the Colombian market.

The MOU follows Nature's Miracle's January 23, 2025, announcement of a purchase order from the National Transport Chamber of Colombia for the introduction of up to 2,000 EVs. In October 2024, the Company also unveiled plans to order electric trucks for conversion into mobile vertical farms, further diversifying its EV portfolio.

Mr. James Li, Chairman and CEO of Nature's Miracle, commented, "The signing of this MOU with ZO Motors represents a significant step forward in our commitment to expanding our EV sales in South America. We hope to leverage ZO Motors' extensive experience and capabilities in developing and manufacturing customized EVs.  If definitive agreements are entered into, we are confident that our sales channels and marketing networks will be further strengthened, opening up more opportunities for customers and sales in the region. We believe this MOU is just the beginning, and it will serve as a strong foundation for future collaborations that will mutually benefit both parties."

About ZO Motors

ZO Motors is a global leader in zero-emission commercial vehicles, dedicated to delivering sustainable transportation solutions for industries including commercial vehicle, port and aviation ground logistics as well as transit and tourist transportation. With manufacturing facilities in Asia and North America, ZO Motors is at the forefront of innovation, combining cutting-edge technology with a commitment to reducing environmental impact.

About Nature's Miracle Holding Inc.

Nature's Miracle (www.Nature-Miracle.com) is a growing agriculture technology company providing products and services to growers in the Controlled Environment Agriculture ("CEA") industry around the world. The company has recently launched EV and bitcoin businesses, all energy dependent as CEA.

Forward-Looking Statements

The information in this press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "forecast," "intends," "may," "will," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release may include, for example: the intended use of proceeds from the offering; successful launch and implementation of Nature's Miracle's joint projects with manufacturers and other supply chain participants of steel, rubber and other materials; changes in Nature's Miracle's strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans; Nature's Miracle's ability to develop and launch new products and services; Nature's Miracle's ability to successfully and efficiently integrate future expansion plans and opportunities; Nature's Miracle's ability to grow its business in a cost-effective manner; Nature's Miracle's product development timeline and estimated research and development costs; the implementation, market acceptance and success of Nature's Miracle's business model; developments and projections relating to Nature's Miracle's competitors and industry; and Nature's Miracle's approach and goals with respect to technology.

These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing views as of any subsequent date, and no obligation is undertaken to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. As a result of a number of known and unknown risks and uncertainties, actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include: the ability to maintain the listing of the Company's shares on Nasdaq; changes in applicable laws or regulations; the effects of the coronavirus (COVID-19) and any future outbreaks on Nature's Miracle's business; the ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities; the risk of downturns and the possibility of rapid change in the highly competitive industry in which Nature's Miracle's operates; the risk that Nature's Miracle's and its current and future collaborators are unable to successfully develop and commercialize Nature's Miracle's products or services, or experience significant delays in doing so; the risk that the Company may never achieve or sustain profitability; the risk that the Company will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; the risk that the Company experiences difficulties in managing its growth and expanding operations; the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations; the risk that Nature's Miracle's is unable to secure or protect its intellectual property; the possibility that Nature's Miracle's may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties described in Nature's Miracle's filings from time to time with the SEC.

For more information, please contact:

Nature's Miracle Holding, Inc.
Chris Wang, CFO
Chris.Wang@nature-miracle.com 

Ascent Investors Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

 

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SOURCE Nature's Miracle Holding Inc.

FAQ

What is the scope of Nature's Miracle (NMHI) MOU with ZO Motors North America?

The MOU covers the potential purchase of 80 ambulances (60 basic and 20 advanced) and collaboration on delivering up to 2,000 EVs to the Colombian market.

When did NMHI receive the Colombian purchase order for EVs?

Nature's Miracle received the purchase order from the National Transport Chamber of Colombia on January 23, 2025.

How many ambulances will NMHI potentially purchase under the ZO Motors agreement?

Under the MOU, Nature's Miracle would purchase 60 basic ambulances and 20 advanced ambulances from ZO Motors North America.

What are NMHI's plans for electric trucks announced in October 2024?

In October 2024, Nature's Miracle announced plans to order electric trucks for conversion into mobile vertical farms.

How many EVs does NMHI plan to deliver to the Colombian market with ZO Motors?

The collaboration aims to deliver up to 2,000 EVs, including electric buses, to the Colombian market.