Company Announcements

YANTAI CITY, China, May 28, 2024 (GLOBE NEWSWIRE) -- Chijet Motor Company, Inc.(Nasdaq: CJET) (the “Company” or “Chijet Motor”), a high-tech enterprise engaged in the development, manufacture, sales, and service of traditional fuel vehicles and new energy vehicles (“NEV”) in China, on May 22, the Investment Promotion Team from Fubao Street, Futian District, Shenzhen, visited Shandong Baoya New Energy Vehicle Co., Ltd., the subsidiary of Chijet Motor located in Yantai City, Shandong Province. The purpose of the visit was to discuss and exchange views on a special program aimed at introducing Chijet Motor’s related industries to Shenzhen. Futian District financial center related responsible person attended the meeting.

During the meeting, Mr. Zhu Hong, the head of the Investment Promotion Team, introduced the geographical advantages of the Shenzhen Park within the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone in Futian District in combination with the needs of Chijet Motor, including funding, high-end talent, and technical support at the current stage of development. Mr. Zhu emphasized that Futian District will provide support and services in industrial support, market financing, advanced technology, and talent support.

Mr. Zhu stated that as a leader in China’s reform and opening-up, Shenzhen has always focused on nurturing and supporting potential enterprises. It offers a mature financial service infrastructure and a favorable business environment, warmly welcoming Chijet Motor to develop in Shenzhen.

Mr. Fan Dongchun, Chief Financial Officer of Chijet Motor, expressed a warm welcome to the Fubao Street Investment Promotion Team for their special visit and gratitude for their attention and recognition of Chijet Motor. He noted that the development of the automotive industry relies heavily on strong support from the financial market. The company values the crucial role of the financial market in its development process and hopes to cooperate with banks, funds, and other financial institutions in Futian District. The company is also planning to initiate matters related to corporate mergers and acquisitions.

Chijet Motor plans to visit Shenzhen in the near future to participate in project roadshow activities in Futian District and to promote the establishment of a subsidiary of its Hong Kong enterprise in Futian District.

About Chijet Motor Company, Inc.

The primary business of Chijet Motor is the development, manufacture, sales, and service of traditional fuel vehicles and NEVs. State-of-the-art manufacturing systems and stable supply chain management enable the Company to provide consumers with products of high performance at reasonable prices. In addition to its large modern vehicle production base in Jilin, China, a factory in Yantai, China will be dedicated to NEV production upon completion of its construction. Chijet Motor has a management team of industry veterans with decades of 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 contains “forward-looking statements” within the meaning of 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 consequently, you should not rely on these forward-looking statements as predictions of future events. Words 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 include, without limitation, statements regarding Chijet Motor’s leadership team, Chijet Motor’s continued growth and financial and operational improvements, Chijet Motor’s ability to develop and sell new or improved products, raise capital, deliver customer orders timely, execute its business plans, and attract and retain customers and skilled professionals; risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, and general economic conditions affecting the Chijet Motor’s industry, along with those other risks described 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 significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside of the control of Chijet Motor and are difficult to predict. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Chijet Motor undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.