Chijet Motor Company, Inc.'s Subsidiary Signed Cooperation Agreement with the Auto Dealer of Algeria

Core Viewpoint - Chijet Motor Company has signed a product sale agency agreement with SARL AI MOTORS from Algeria, allowing SARL AI MOTORS to act as the exclusive selling agent for Chijet's "SENIA" automobiles in Algeria for at least two years, which is expected to enhance market development in Africa [3][4]. Company Overview - Chijet Motor Company, Inc. is engaged in the development, manufacture, sales, and service of traditional fuel vehicles and new energy vehicles (NEVs) in China [3][6]. - The company operates a large modern vehicle production base in Jilin, China, and is constructing a factory in Yantai, China, dedicated to NEV production [6]. - Chijet Motor boasts a management team with extensive experience in engineering, design, management, financing, industrial production, and financial management [6]. Agreement Details - The agreement with SARL AI MOTORS allows FAW Jilin, a holding subsidiary of Chijet, to manufacture SENIA automobiles in China and export them to Algeria based on orders from SARL AI MOTORS [4]. - This partnership is anticipated to be beneficial for FAW Jilin's market development in Africa [4].