Autozi entered into a Memorandum of Understanding (MOU) covering procurement plans totaling around $980 million.
- The MOU signals a potential collaboration for large-scale acquisitions of complete vehicles and related automotive components.
- The participating buyers aim to utilize Autozi’s supply chain and digital tools to manage multi-category procurement.
- Through this collaboration, Autozi plans to broaden its transaction volumes and diversify its offerings.
Autozi Internet Technology (AZI) announced on Tuesday a Memorandum of Understanding (MOU) with multiple prospective buyers, outlining procurement intentions valued at roughly $980 million.
AZI operates technology-based automotive e-commerce platforms that offer services such as selling new cars, sourcing parts, and managing logistics.
Strategic Procurement Plans
The MOU signals a potential collaboration for large-scale acquisitions of complete vehicles and related automotive components through AZI’s online platform.
The participating buyers aim to utilize Autozi’s supply chain and digital tools to manage multi-category procurement. However, the agreement is non-binding, and final figures and operational details will depend on the signing of formal contracts.
Expansion And Diversification
By integrating diverse buyer demands with its platform technology, the company seeks to streamline online procurement, enhance cross-border services, and consolidate supply chain efficiency.
Through this collaboration, Autozi plans to broaden its transaction volumes and diversify its offerings, including a wider array of complete vehicles and supporting parts.
"The signing of the MOU for procurement intentions totaling $980 million fully demonstrates market recognition of our business model and technological strength,” said Autozi Internet’s management.
What Are Stocktwits Users Saying?
Autozi Internet’s stock traded over 12% higher on Tuesday, mid-morning. On Stocktwits, retail sentiment around the stock jumped to ‘extremely bullish’ from ‘bearish’ territory the previous day. Message volume shifted to ‘extremely high’ from ‘low’ levels in 24 hours.
A bullish Stocktwits user highlighted the company’s increasing revenue and cash position in hand.
AZI stock has lost over 95% of its value year-to-date.
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