Chijet Motor Subsidiary Signs Cooperation Agreement with Uzbek Customer

JILIN CITY, China, June 14, 2024 — 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 May 29, Chijet’s majority-owned subsidiary FAW Jilin Automobile Co., Ltd. (“FAW”) entered into a framework cooperation agreement with Sayyed Karimov, the economic governor of Tashkent Region of Uzbekistan, on behalf of TANK AUTO, a Uzbekistan local auto distributor. TANK AUTO will serve as a distribution and sales agent of FAW in Uzbekistan for the next three years, undertaking automotive sales and after-sales services.

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An Uzbekistan economic and trade team, led by Sayyed Karimov, visited FAW’s production plant to gain insights into FAW’s vehicle models, production processes, and technologies. Sayyed Karimov expressed confidence in the marketability of FAW’s vehicle models in Uzbekistan, highlighting their suitability in terms of comfort, practicality, and price. He projected achieving a sales volume of 12,000 units within three years and expressed optimism about the collaboration with FAW.

Mr. Wang Yunfei, head of FAW, extended gratitude to the Uzbekistan economic and trade team for their visit and echoed Sayyed Karimov’s sentiment on the compatibility of FAW’s products with the mass consumer market in developing countries. Mr. Wang emphasized FAW’s commitment to long-term, mutually beneficial collaborations, pledging to develop more products tailored to the Uzbek market and strive for joint success with Uzbek partners.

About Chijet Motor Company, Inc.

Chijet Motor’s primary business focus is the development, manufacture, sales, and service of traditional fuel vehicles and NEVs. The Company leverages state-of-the-art manufacturing systems and a robust supply chain management structure to deliver high-performance products at competitive prices to consumers. In addition to its large, modern vehicle production base in Jilin, China, Chijet Motor is establishing a factory in Yantai, China, dedicated to NEV production upon its completion. Chijet Motor boasts a management team of seasoned industry veterans possessing decades of experience in engineering and design, management, financing, industrial production, and financial management. For comprehensive 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.