MingZhu to Deploy 700 Hydrogen Fuel Cell Vehicles

MingZhu Logistics Reaches Major Next Gen Fuel Transport Cooperation Agreement

SHENZHEN, China, Dec. 23, 2022 /PRNewswire/ -- MingZhu Logistics Holdings Ltd. (NASDAQ:YGMZ) (the "MingZhu" or "Company") announced a major next gen fuel transport cooperation, under which it will deploy 700 new generation hydrogen fuel cell vehicles. On December 21, 2022, Mingzhu entered into a Letter of Intent (the "LOI") with Shenzhen Kameng Automobile Sales and Services Co., Ltd. (the "Kameng"), an authorized dealer of Dongfeng Liuzhou Automobile Co., Ltd. (the "Dongfeng Liuzhou"). Based on the LOI, Mingzhu shall purchase 700 hydrogen fuel cell vehicles from Kameng and the vehicles shall be delivered from May 5, 2023 to October 5, 2023. This LOI is an important step to execute the strategic agreement entered among and between Mingzhu, Shenzhen National Hydrogen New Energy Technology Co., Ltd (the "National Hydrogen") and Dongfeng Liuzhou on October 20, 2022. According to the strategic cooperation agreement, the companies will jointly work together to help drive the high-quality development of the hydrogen fuel cell energy industry in Yantian District, including the realization of the "double carbon" goal, with port logistics, sanitation, cold chain logistics, and more in China's global marine center city.