Happiness Biotech Signed Agreement To Distribute Volkswagen Electric Vehicles
Happiness Development Group Limited - Class A Ordinary Shares (HAPP)
Company Research
Source: PR Newswire
NANPING, China, June 14, 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 signed an agreement with Guang'an Ruili Trading Co., Ltd ("Ruili") to jointly purchase and sell 1213 Volkswagen electric vehicles.According to the agreement, Taochejun and Ruili will jointly purchase 1213 pure electric vehicle "e-Bora", with a total consideration of RMB90.12 million (approximately $14.10 million). Ruili is a large auto trading company in Sichuan Province, China, which has a wide range of business relationships and social resources in Sichuan."We are very happy to work with Ruili on this transaction. As a newly established brand, Taochejun has achieved rapid development through cooperation with large auto trading groups such a
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