Core Viewpoint - Autozi Internet Technology (Global) Ltd. has announced a strengthened collaboration with Velocar Ltd. aimed at achieving approximately US$500 million in revenue over the next three years through M&A-oriented cooperation in the European automotive supply chain [1][4]. Group 1: Partnership Development - Discussions between Autozi and Velocar began around six months ago, leading to a formal business partnership established three months ago, focusing on cross-border vehicle supply and localized services [2]. - The partnership has evolved through in-depth exchanges and multiple discussions, allowing both parties to understand each other's strategic priorities and resource strengths [2]. Group 2: M&A Strategy - As cooperation progressed, both parties recognized that M&A-driven integration could enhance business expansion and operational efficiency, leading to the signing of a memorandum of understanding (MOU) to facilitate further collaboration [3]. - The proposed cooperation aims to leverage Velocar's strengths in vehicle distribution and Autozi's capabilities in digital supply chain platforms to expand market coverage in Europe [4]. Group 3: Long-term Strategy - Autozi plans to advance the cooperation in a prudent manner, focusing on strategic alignment with Velocar as part of its long-term globalization strategy [5].
Autozi Enters into a US$500 Million European Market Cooperation Framework with European Supply Chain Service Provider Velocar Ltd., Accelerating Cross-Border Automotive Supply Chain Expansion