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EZGO Announces Local Government Successfully Accepts Application of the State First-class E- Motorcycle Manufacturing Qualification

Published : Friday, May 14, 2021, 9:15 pm
ACROFAN=PRNewswire | mediainquiries@prnewswire.com | SNS

CHANGZHOU, China, May 14, 2021 /PRNewswire/ -- EZGO Technologies Ltd. (Nasdaq: EZGO) ("EZGO" or the "Company"), a leading short-distance transportation solutions provider in China, today announced that the Administrative Examination and Approval Authority of Tianjin Wuqing District recently accepted the project application of the state first-class qualification of electric motorcycle manufacturing of EZGO.  On June 1, 2019, the Industry and Information Department of China defined regulations for "road motor vehicle products," which is required of all enterprises selling motor vehicles in China. Once the inspection is passed, the Company will receive the State First-Class Qualification of electric motorcycle manufacturing, which will ensure that all future Dilang brand electric tricycles ("E-tricycles") and electric motorcycles will be able to legally produced. Together with the new national standard E-bicycle and e-scooter, EZGO is qualified to produce all two wheel and three-wheel vehicles under the brand of Dilang. The Company expects to receive qualification status in June.

Management Commentary

Mr. Jianhui Ye, Chief Executive Officer of EZGO, stated, "We have successfully built our sales and product portfolio with a loyal customer base, and all of our existing products meet the new national standard. With the improvement of our design and production capabilities, including our industry experience and investment in manufacturing and R&D, we felt it was appropriate apply for the State First-Class Electricity Motorcycle Qualification. This will allow the Company to market its products as officially meeting all of the national standards. We believe that this will greatly improve our marketing and sales capabilities."

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 E-bicycles and E-bicycle rentals, complemented by the E-bicycle charging pile business. For additional information, please visit EZGO's website at www.ezgotech.com.cn. Investors can visit the "Investor Relations" section of EZGO's website at https://www.ezgotech.com.cn/Investor/.

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 ija,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.



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