EZGO Technologies enters five-year framework agreement with Woteam

EZGO Technologies announced that it entered into a five-year strategic cooperation framework agreement with Woteam New Energy, a high-tech enterprise engaged in the research, development, production and sales of electric bicycle batteries, electric tool batteries, robot batteries, photovoltaic energy storage batteries and other products. EZGO and Woteam aim to jointly develop a series of automotives and electric products to meet local needs in the Southeast Asian market, and to enhance the strategic positioning of the intelligent industries for both parties. Pursuant to the Agreement, EZGO and Woteam agree to integrate their respective strengths to accelerate the product development and develop sales and distribution network. Both parties are also expected to establish production plants for electric vehicles and lithium batteries across Southeast Asia to broaden market reach. EZGO will leverage its expertise in the electric bicycle sector, while Woteam will contribute its advanced battery technology and regional distribution channels. Pursuant to the Agreement, based on EZGO’s needs and at its request, Woteam will co-develop and manufacture power and storage batteries. The Agreement, set to last five years, and the collaboration will be adapted to the specific business engagement models of each party.