Autozi Internet Technology Stock Gains In Pre-Market On MoU Of Approx. $980 Mln

(RTTNews) - Autozi Internet Technology (Global) Ltd. (AZI), Tuesday announced a Memorandum of Understanding on Procurement Intentions with several potential buyers, leveraging the company's digital automotive e-commerce platform and supply chain system to conduct multi-category, large-scale procurement cooperation.

In the pre-market hours, AZI is surging 37.01 percent, to $2.11 over the previous close of $1.68 on the Nasdaq.

Under the MoU, valued at approximately $980 million, the parties intend to engage in centralized procurement cooperation for complete vehicles and supporting automotive parts through Autozi's digital automotive e-commerce platform.

The MoU is expected to help the company in the transformation of its automotive industry chain towards digitalization, online integration, and globalization.