Chijet Motor Initiates Business of Automobile Culture Tourism

JILIN CITY, China, June 18, 2024 (GLOBE NEWSWIRE) -- Chijet Motor Company, Inc. (Nasdaq: CJET) (the “Company” or “Chijet”), a high-tech enterprise engaged in the development, manufacture, sales, and service of traditional fuel vehicles and new energy vehicles (“NEV”) in China announced that on June 7, The holding subsidiary FAW Jilin Automobile Co., Ltd. (“FAW JiLin”) of Chijet Motor signed an intention agreement with the administration committee of Jilin National High-tech Industrial Development Zone and Haikou BIAOCHI Automobile Culture Development Co., Ltd. (“BIAOCHI”) for automobile industry culture tourism and race automobile R&D and manufacture. FAW JiLin and BIAOCHI will cooperate to do project of automobile culture tourism with northeast ice-snow tourism characteristics. Depending on the automobile R&D and manufacture system of FAW JiLin, a kart, ATV & UTV new energy and fuel automobile manufacture base will be constructed in the factory of FAW JiLin in the future. In addition, a comprehensive cultural tourism base with kart track, off-road track, rallying field and RV camping will be constructed nearby. The industrial cultural tourism project integrates automobile race, automobile development, RV camping, music and gastronomy.

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