Jiuzi Holdings Inc. (NASDAQ:JZXN) announced a $30 million investment from Xinhui Solar Technology Group Co., Ltd. The deal combines equity and co‑development financing to fund the rollout of high‑power DC fast‑charging stations and integrated charging hubs across Southeast Asia.
The investment comes as Jiuzi has struggled to reverse a steep decline in revenue, reporting an 86.1% drop over the past three years and sustained net and operating losses. The capital injection is intended to shore up cash flow and support the company’s expansion plans while addressing the cash burn that has threatened its viability.
Southeast Asia is a rapidly growing market for electric vehicles, with governments in Singapore, Thailand, Vietnam, the Philippines, Malaysia and Indonesia offering incentives and building out charging infrastructure. Xinhui Solar’s established local presence, distribution channels and operational experience are expected to accelerate Jiuzi’s deployment of DC fast‑charging stations and service systems, creating a benchmark new‑energy mobility platform in the region.
Jiuzi’s CEO said the partnership “provides strong funding support and, more importantly, leverages Xinhui Solar’s local resources, channels, and operating experience in Southeast Asia,” adding that the collaboration will deliver “multidimensional synergy across capital, technology and channels.” Xinhui Solar’s senior executive echoed the sentiment, noting optimism about Southeast Asia’s growth potential in EV adoption and charging infrastructure and recognizing Jiuzi’s comprehensive capabilities in charging technology, network operations and service systems.
The deal also signals Jiuzi’s broader strategy to diversify beyond charging infrastructure, as the company has pursued blockchain and Web3 initiatives and secured a $90 million memorandum of understanding with Morgan International Finance for cryptocurrency custody. While the investment is a positive step, investors remain wary of the company’s financial fragility and the potential dilution of existing shareholders.
Overall, the $30 million infusion is a critical lifeline for Jiuzi Holdings, providing the resources needed to capitalize on Southeast Asia’s EV momentum while addressing the company’s financial challenges. The partnership underscores the importance of local expertise and capital in scaling charging networks in emerging markets.
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