Chijet Motor Subsidiary Signs Deal with Algerian Auto Dealer

June 17, 2024 by No Comments

JILIN CITY, China, June 17, 2024 — Chijet Motor Company, Inc. (Nasdaq: CJET) (the “Company” or “Chijet”), a high-tech enterprise focused on the development, manufacture, sales, and service of traditional fuel vehicles and new energy vehicles (“NEV”) in China announced that on May 10, its holding subsidiary FAW Jilin Automobile Co., Ltd. (“FAW Jilin”) entered into a product sales agency agreement with SARL AI MOTORS from Algeria. SARL AI MOTORS, an Algerian auto importer and seller, will serve as the exclusive sales agent in Algeria for CHIJET’s “SENIA” automobiles for at least the next two years following the signing of the agreement.

FAW Jilin will manufacture SENIA automobiles in China and export them to Algeria based on orders received from SARL AI MOTORS. The agreement is expected to contribute to the expansion of FAW Jilin’s market presence in Africa.

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About Chijet Motor Company, Inc.

The core business of Chijet Motor revolves around the development, manufacture, sales, and service of traditional fuel vehicles and NEVs. Cutting-edge manufacturing systems and a robust supply chain management enable the Company to offer consumers high-performance products at competitive prices. Alongside its substantial modern vehicle production facility in Jilin, China, a factory in Yantai, China is dedicated to NEV production upon its completion. Chijet Motor’s leadership team boasts industry veterans with extensive experience in engineering and design, management, financing, industrial production, and financial management. For additional information about Chijet Motor, please visit www.chijetmotors.com.

Chijet Motor Contact:
2888 Dongshan Street
Gaoxin Automobile Industrial Park
Jilin City, JL. P.R.China
0535-2766202
EMAIL: info@chijetmotors.com

Investor Relations Contact:
Skyline Corporate Communications Group, LLC
1177 Avenue of the Americas, 5th Floor
New York, NY 10036
Office: (646) 893-5835 x2
Email: info@skylineccg.com

Forward-Looking Statements

This press release includes “forward-looking statements” as defined in the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Chijet Motor’s actual results may differ from its expectations, estimates and projections, and as a result, you should not rely on these forward-looking statements as predictions of future events. Terms such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “might” and “continues,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements encompass, but are not limited to, statements regarding Chijet Motor’s leadership team, Chijet Motor’s ongoing growth and financial and operational improvements, Chijet Motor’s ability to develop and sell new or enhanced products, raise capital, deliver customer orders on time, execute its business plans, and attract and retain customers and skilled professionals; risks and uncertainties related to earnings fluctuations, fluctuations in foreign exchange rates, and general economic conditions impacting the Chijet Motor’s industry, along with those other risks detailed under the heading “Risk Factors” in the prospectus Chijet Motor filed with the Securities and Exchange Commission (the “SEC”) on March 30, 2023, and those that are included in any of Chijet Motor’s future filings with the SEC. These forward-looking statements involve substantial risks and uncertainties that could lead to actual results diverging significantly from expected results. Most of these factors are beyond Chijet Motor’s control and are difficult to predict. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove inaccurate, actual results may differ significantly from those indicated or anticipated by such forward-looking statements. Readers are advised not to place undue reliance upon any forward-looking statements, which are only current as of the date they are made. Chijet Motor assumes no obligation to update forward-looking statements to reflect events or circumstances subsequent to the date they were made, except as required by law or applicable regulation.