Ankai Bus announced the termination of the new energy power battery joint venture framework agreement with JAC Motors and other parties

Ankai Bus announced on May 30 that it had decided to terminate the new energy power battery joint venture framework agreement signed with JAC Motors, Fudi Battery Co., Ltd. and Zhejiang Energy Storage Group Co., Ltd. due to failure to reach an agreement on the joint venture. The agreement was originally intended to jointly invest 1 billion yuan to establish a joint venture company, build a new energy power battery factory and carry out production projects.