Ionix Technology, Inc. announced one of its subsidiaries, Huixiang Energy Technology ("Huixiang") has entered strategic cooperative agreements with Gongjue Electric Vehicle("Gongjue") and HiBoss Electric Vehicle("HiBoss"). Huixiang was incorporated to focus on producing safe, fast charging and long life cycle Electric Vehicle ("EV") batteries, as well as developing its own online sharing platform. Gongjue and HiBoss will purchase power battery and battery packs from Huixiang according to the agreements. Huixiang will cooperate with Gongjue and HiBoss to develop the next generation batteries for EV with faster charge (10 mins charge, 600 KM performance), safer, longer endurance mileage and lower cost performances. Total investment in this project is estimated to be more than a billion RMB Yuan, of which approximately 25% will be necessary in the first phase and which is anticipated to give annual output of 50,000 vehicles. Gongjue and HiBoss will also engage the online sharing platform developed by Huixiang, which will offer online EV sharing services and EV sale services.