Benzinga | Dec 3, 2021 09:30AM EST

EZGO Says Co's Affiliate Obtains Exclusive Rights To Operate E-Bicycle Sharing Services In Tancheng, Shandong; Terms Not Disclosed

ZGO Technologies Ltd. (Nasdaq: EZGO) ("EZGO" or "we", "our", or "the Company"), a manufacturer of two- and three-wheeled electric vehicles in China, today announced that an affiliate company of the Company's PRC subsidiary has entered into an operation agreement with the Tancheng local administration in Linyi City, Shandong Province, whereby EZGO has exclusive rights to operate e-bicycle sharing services, providing up to 3,000 e-bicycles for bike-sharing purposes in the Tancheng local area. The term of this agreement is three years commencing from November 9, 2021 to November 8, 2024.

Following the launch of its e-bicycle sharing services in Tancheng, EZGO anticipates expanding its bike-sharing business into cities in southern Shandong (Linyi City), planning to serve a population of more than 800 thousand.

EZGO's integrated management platform of "bicycles + batteries + Internet" supports real-time control functions of electric bicycles, lithium batteries, on-board instruments and central controllers, improving the overall user experience and safety of e-bicycle sharing customers.