Happiness Biotech Entered Into Electric Vehicle Distribution Agreement With Geely's Subsidiary
Happiness Development Group Limited - Class A Ordinary Shares (HAPP)
Company Research
Source: PR Newswire
NANPING, China, June 10, 2021 /PRNewswire/ -- Happiness Biotech Group Limited (the "Company" or Nasdaq: HAPP), an innovative China-based nutraceutical and dietary supplements producer and e-commerce services provider, announced today that Taochejun (Fujian) Automobile Distribution Co., Ltd. ("Taochejun"), a subsidiary of the Company in China, has entered into a distribution agreement with Zhejiang Fengsheng Automobile Sales Co., Ltd ("Maple Auto"), a wholly owned subsidiary of Geely Technology Group Co., Ltd., or Geely, to distribute electric vehicles under the brand "Maple" .According to the distribution agreement, Taochejun will become the sales agent for "Maple 80V" in Ningbo City and Hangzhou City. The minimum sales target for the six months ended December 31, 2021 is 200 vehicles. Maple Auto will provide complete after-sales service and technical support. Taochejun is an upgraded version of Happy Auto. The Company has redesigned and upgraded its auto Business Unit, which was init
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