Autozi Internet Technology signs non-binding $980M procurement MOU

Autozi Internet Technology (NASDAQ:AZI) said it signed a memorandum of understanding representing roughly $980 million in intended purchases from multiple potential buyers, signaling strong interest in scaling transactions through its digital automotive platform.

The company announced the agreement on Dec. 16, emphasizing that the procurement volumes are non-binding and will depend on subsequent detailed contracts.

The MOU outlines cooperation on centralized procurement of complete vehicles and associated automotive parts using AZI’s e-commerce and supply chain infrastructure.

Management described the agreement as a step toward expanding transaction scale, diversifying product offerings, improving service capabilities, and reinforcing the company’s competitive position in digital auto commerce.

Autozi said the commitments within the MOU are indicative but not guaranteed, with actual purchasing amounts and timing contingent on future formal agreements and execution performance.

The company has been working to accelerate digitalization across its platform as it targets deeper integration within China’s evolving automotive supply chain.