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      MingZhu Logistics Holdings Ltd. (YGMZ) Stock Experiences Minor Volatility Despite Promising MOU with Damo - Stocks Telegraph

      By Shimrez Hyder

      Published on

      July 26, 2021

      1:52 PM UTC

      MingZhu Logistics Holdings Ltd. (YGMZ) Stock Experiences Minor Volatility Despite Promising MOU with Damo - Stocks Telegraph

      MingZhu Logistics Holdings Ltd. (YGMZ) stock prices were down by 2.99% as of the market closing on July 23rd, 2021, bringing the price per share down to USD$3.90. Subsequent current market fluctuations saw the stock rally by 1.02%, bringing it up to USD$3.94.

      YGMZ Stock MOU with Damo

      July 26th 2021 saw the company announce having entered into a non-binding memorandum of understanding (MOU). As per the agreement, Damo Electric Truck will set up a joint venture with Mingzhu, wherein DAMO will transfer all of its operating business and all developed intellectual property, as well as all IP currently being developed. YGMZ stock intends to further expand its network by deploying next-gen trucks. Among the network is coal transportation and container transportation within the Yantian International Container Terminals.

      About Damo

      YGMZ stock’s partner, DAMO, develops zero-emission automated trucks equipped with a single charge range of up to 2,000 km. A mix of AI, 5G, automated driving technology, battery technology, and micro-turbine generator technology make for cutting-edge technological development. The company boasts a highly efficient, cost-effective, and complete logistics solution. This solution serves to help customers reduce operating expenses by roughly 60%, while efficiency can be boosted by 200%.

      Expanded Opportunities for YGMZ Stock

      DAMO’s advanced battery solution facilitates overcoming some of the existing challenges faced by the electric truck sector with its combination with Autopilot. Signaling the success of its adoption of mature and road-tested driverless technology, DAMO has received orders of intent from customers across global markets. Recently, DAMO announced its series A funding, which was led by renowned investors and industry experts, which will help it to integrate EV-autonomous technology to the freight truck market.

      Scope of Collaboration

      YGMZ stock is set to revolutionize the market, while it enjoys a prime spot in the center of the market’s most rapidly expanding vector. The collaborative efforts of DAMO and YGMZ will serve to maintain a strong supply chain and hardware design control. The joint effort will see the company’s coordinate to create semi-trucks designed and built with integrated auto-grade components, as well as sensors to additionally foster reliability and effectiveness.

      Future Outlook for YGMZ

      Armed with an expansive new partnership opportunity, YGMZ stock is poised to capitalize on the expanded scope of the opportunities ahead of it. The company is keen to ensure the timely development, commercialization, and proliferation of their flagship offerings. Current and potential investors are keen to reap the increases in shareholder value resulting from the DAMO-YGMZ collaborations.

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