Chijet Motor Company Forges Transformative Exclusive Partnership with Singapore-Backed Tagvance to Pioneer Global Autonomous Driving Revolution
New York, NY, Oct. 28, 2025 (GLOBE NEWSWIRE) -- Chijet Motor Company, Inc. (NASDAQ:CJET) ("Chijet" or the "Company") today announced the execution of an exclusive technology cooperation framework agreement with Tagvance Pte. Ltd., a Singapore-based innovator in autonomous driving technology backed by government-related investment entities. This landmark collaboration establishes an exclusive strategic alliance in the autonomous driving domain for passenger and commercial vehicles, as well as intelligent mobility platforms, positioning Chijet at the forefront of next-generation mobility solutions.
Under the agreement, Tagvance grants Chijet exclusive global rights to integrate, commercialize, and deploy its cutting-edge autonomous driving technology into Chijet-branded vehicles. The partnership encompasses comprehensive technical collaboration, with Tagvance providing essential specifications, software interfaces, and sensor integration guidelines. At the same time, Chijet contributes vehicle platforms, hardware adaptations, and regulatory compliance support across key jurisdictions. Intellectual property developed jointly will be co-owned on a 50-50 basis, fostering innovation while preserving each party's core assets.
The alliance will drive joint participation in government-supported autonomous-driving pilot and regulatory sandbox programs in Singapore and China, including smart mobility initiatives led by the respective authorities. Tagvance will spearhead Singapore-based pilots leveraging its regulatory expertise and technology platforms, complemented by Chijet's leadership in China, which utilizes its robust production and research capabilities. Both parties commit to full compliance with pertinent regulations, including regulations by Singapore's Land Transport Authority (LTA) and Personal Data Protection Act (PDPA), as well as China's Ministry of Industry and Information Technology (MIIT), the Cyberspace Administration of China (CAC), and the Automotive Data Security Management Regulations.
Ms. Melissa Chen, Chief Executive Officer of Chijet, stated, "This exclusive partnership with Tagvance represents a pivotal milestone in Chijet's evolution toward intelligent, sustainable mobility. By harnessing Tagvance's world-class autonomous driving expertise alongside our manufacturing prowess and global footprint, we are poised to deliver transformative solutions that redefine safety, efficiency, and accessibility in transportation. Together, we will accelerate commercialization and set new benchmarks for innovation in the autonomous era."
The agreement, effective for an initial five-year term with options for renewal, underscores a shared vision for advancing global autonomous vehicle deployment while upholding stringent confidentiality and intellectual property protections.
About Chijet Motor Company, Inc.
The primary business of Chijet is the development, manufacture, sales, and service of traditional fuel vehicles and NEVs. State-of-the-art manufacturing systems and stable supply chain management enable the Company to provide consumers with high-performance products at reasonable prices. In addition to its large modern vehicle production base in Jilin, China, a factory in Yantai, China will be dedicated to NEV production upon completion of its construction. Chijet has a management team of industry veterans with decades of experience in engineering and design, management, financing, industrial production, and financial management. For additional information about Chijet, please visit www.chijetmotors.com.
Forward-Looking Statements
This press release contains forward-looking statements as defined under Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, formulated in accordance with the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. These statements, reflecting the Company's projections about its future financial and operational performance, employ terms like 'believes,' 'estimates,' 'anticipates,' 'expects,' 'plans,' 'projects,' 'intends,' 'potential,' 'target,' 'aim,' 'predict,' 'outlook,' 'seek,' 'goal,' 'objective,' 'assume,' 'contemplate,' 'continue,' 'positioned,' 'forecast,' 'likely,' 'may,' 'could,' 'might,' 'will,' 'should,' 'approximately,' and similar expressions to convey the uncertainty of future events or outcomes. These forward-looking statements are based on the Company's current expectations, assumptions, and projections, which involve judgments about future economic conditions, competitive landscapes, market dynamics, and business decisions, many of which are inherently difficult to predict accurately and are largely beyond the Company's control. Additionally, these statements are subject to a multitude of known and unknown risks, uncertainties, and other variables that could significantly diverge the Company's actual results from those depicted in any forward-looking statement. These factors include, but are not limited to, varying economic conditions, competitive pressures, and regulatory changes. Because of these and other risks, uncertainties, and assumptions, undue reliance should not be placed on these forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be required by law, the Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
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Matthew Abenante, IRC
President
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Tel: 347-947-2093
Email: [email protected]
