EZGO Expands Portfolio of Products with The Launch of Its First Range-Extended E-Scooter in China: The "Cenbird"

CHANGZHOU, China, May 4, 2021 /PRNewswire/ --  EZGO Technologies Ltd. (Nasdaq: EZGO) ("EZGO" or the "Company"), a leading short-distance transportation solutions provider in China, today announced the launch of its newest range-extended electric scooter ("e-scooter"), under the brand name "Cenbird." The Company intends to target the growing food delivery market in China, and has initially begun selling the new product in Jiangsu Province and Zhejiang Province.

Management Commentary

Mr. Jianhui Ye, Chief Executive Officer of EZGO, stated, "We have seen incredible growth in the food and grocery delivery market in China in recent years. China's rapid expansion in food delivery has been driven by a new generation of youthful consumers, with approximately 419 million users taking advantage of online food delivery services in 2020, according to the China Internet Network Information Center. We believe online food delivery services have demand for long range e-scooters which can drive extended distances. Our Company is focused on providing individuals with a cost-effective and environmentally-friendly solution to service this market."

Mr. Ye continued, "EZGO is committed to creating environmentally friendly solutions that provide new and convenient options that fit the changing needs of China's urban consumer. Our Company designed a range-extended model e-scooter that is attractive, light, and provides battery life that is among the best across our entire product portfolio, addressing the most glaring need across the e-scooter market. Our extended-range e-scooter can be charged while in motion, eliminating a current barrier in the marketplace for customers that need to frequently change batteries or charging batteries. The Cenbird has a range of up to 350 kilometers at a full charge. Our Company continues to focus on developing new products to meet customers' needs."

Details on the "Cenbird"  

 Utilizing its proprietary technology for battery systems management, EZGO's Cenbird e-scooter integrates a high-performance gasoline generator with battery charging technology to achieve an expected driving distance up to 350 kilometers before recharging and refueling. The Cenbird is equipped with a 60V20AH battery and a 2000W electric motor designed in-house by the Company's team of engineers. The Cenbird electronic control unit, or ECU, utilizes gasoline only as needed to recharge the battery depending on the driving situation, which provides stable and reliable power while remaining environmentally efficient.

About EZGO Technologies Ltd.

Leveraging an Internet of Things (IoT) product and service platform and two E-bicycle brands, "Cenbird" and "Dilang," EZGO has established a business model centered on the manufacturing and sale of E-bicycles and E-bicycle rentals, complemented by the E-bicycle charging pile business. For additional information, please visit EZGO's website at www.ezgotech.com.cn. Investors can visit the "Investor Relations" section of EZGO's website at http://www.ezgotech.com.cn/Investor/.

Safe Harbor Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the short-distance transportation solutions market in China and the other international markets the Company plans to serve; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof.

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