Benzinga | Dec 3, 2021 10:49AM EST

EZGO's Affiliate Gets Rights To Operate E-Bicycle Sharing Services In Shandong Province

* EZGO Technologies Ltd (NASDAQ:EZGO) announced an affiliate of its PRC subsidiary has entered into an operating agreement with the Tancheng local administration in Linyi City, Shandong Province.

* Under the agreement, EZGO will have 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 the agreement is three years, commencing from November 9, 2021, to November 8, 2024. The financial terms were not disclosed.

* Price Action: EZGO shares are trading lower by 6.31% at $2.08 on the last check Friday.