AUTO ITALIA (00720) has entered into a strategic framework agreement with B-On Global and the Jiangsu Changzhou Economic Development Zone to jointly build a new energy mobile business ecosystem.

AUTO ITALIA (00720) announced that on August 20, 2026, B-On Global S. r.l. (B-On Global), the company, and the Management Committee of Jiangsu Changzhou Economic Development Zone (Jiangsu Changzhou Economic Development Zone) entered into a strategic framework agreement (Strategic Framework Agreement), under which all parties agreed to jointly develop a new energy mobile business ecosystem in Changzhou city, Jiangsu Province, People's Republic of China (China), as the first pilot location deployed nationwide. According to the Strategic Framework Agreement, (i) B-On Global will be responsible for selecting a well-known domestic or international retail consumer brand as its strategic partner; (ii) B-On Global and the company will jointly be responsible for the overall customization of the exterior design of the mobile commercial vehicles, development of the artificial intelligence operating system, vehicle manufacturing, sales delivery, and subsequent operation and maintenance management; and (iii) the Jiangsu Changzhou Economic Development Zone, as the core regional coordinating party, will be responsible for coordinating the regional resources of Changzhou city, assisting the vehicles in compliant commercial operations, and effectively connecting asset parties and end operators. The initial cooperation period under this Strategic Framework Agreement will be three years, which may be extended upon mutual agreement. Specific matters regarding vehicle sales, special leasing arrangements, revenue sharing, operational and maintenance services, global business expansion, and other related matters will be agreed upon by all parties through specific agreements. Due to the signing of the Strategic Framework Agreement, the company's indirectly wholly-owned subsidiary, Hantouson Automotive Technology (Chongqing) Co., Ltd. (Hantouson Automotive Technology), on August 20, 2026, entered into a customized vehicle development with a wholly-owned subsidiary of Jiangsu Changzhou Economic Development Zone, under which Hantouson Automotive Technology is entrusted to carry out the customized development, solution design, vehicle modification, prototype testing, and compliance adjustments for a fully electric intelligent mobile coffee shop. The Jiangsu Changzhou Economic Development Zone is a Chinese government department responsible for managing the Jiangsu Changzhou Economic Development Zone. The group of B-On Global is a European provider of intelligent solutions for new energy commercial vehicles, providing integrated solutions for urban mobility and logistics transportation worldwide. B-On Global has entered into a conditional agreement with a major shareholder of the company to acquire the rights to 1.3 billion shares of the company, which is still pending completion.