Benzinga | Aug 10, 2021 09:42AM EDT

808 Renewable Energy Enters Into Cooperation Agreement With EZGO

808 Renewable Energy Corporation (OTC:RNWR) ("808" or the "Company"), today announces the Company has established a strategic cooperation relationship with EZGO Technology (NASDAQ:EZGO) to team up together on OEM co-manufacturing. A tri-party agreement has been executed to have EZGO to handle the chassis and frame production, and to have Coleitec Composites Technology Co., Ltd. to handle the composite material production.

According to Mr. Peter Chen, CFO of the company, " As our Company has been working very aggressively in boosting up our production capacity, and building our global supply chain platform over the past few months, we are pleased to announce that we have accomplished our goal successfully. With the helps and supports from our strategic-alliance partners, now we are able to mass produce our electric reverse-trike vehicles and gyrocopters from this point on. Mr. Peter Chen furtherly added, "EZGO Technology is a capable and reputable manufacturer in two-wheel and three-wheel electric vehicles, and to have them as our co-manufacturing partner will significantly increase our production capability and to have better control on the production cost of our chassis and frames. Coleitec Composites is a leading advanced composite company services the electric vehicle, aviation, transportation and energy industries, they will be able to handle and fulfill our needs in high-quality and advanced composite materials, such as carbon fiber and fiberglass for our electric reverse-trike vehicles and gyrocopters, in addition to improve our production capability and over-all quality at the same time."

David Chen, President and CEO of 808 commented, "we are very excited about the progresses we have made over the past few months, and we feel extremely positive about the growth and future of our company throughout the future. By building a strong Cinergy and mutually-benefited strategic-alliance relationships with some of the best players in the industry, we now can deliver the quality products with better cost factors, as these partners can offer us favorable pricing of parts, components and system from their automated mass production facilities, and then we can pass down the savings to our customers as a result."