Chijet Motor Initiates Business of Automobile Culture Tourism

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 [2] - The company has a modern vehicle production base in Jilin, China, and is constructing a factory in Yantai, China, dedicated to NEV production [2] - Chijet Motor's management team consists of industry veterans with decades of experience in various fields including engineering, design, management, and financial management [2] Recent Developments - On June 7, 2024, Chijet's holding subsidiary FAW Jilin Automobile Co., Ltd. signed an intention agreement with the Jilin National High-tech Industrial Development Zone and Haikou BIAOCHI Automobile Culture Development Co., Ltd. for a project focused on automobile culture tourism and race automobile R&D and manufacture [5] - The project will include the construction of a kart, ATV & UTV new energy and fuel automobile manufacturing base at FAW Jilin's factory, as well as a comprehensive cultural tourism base featuring a kart track, off-road track, rallying field, and RV camping [5] - This industrial cultural tourism project aims to integrate automobile racing, development, RV camping, music, and gastronomy, leveraging the northeast ice-snow tourism characteristics [5]