By Jiahui Huang Zhejiang Leapmotor Technology's shares were lower at the mid-day break after initially rising on news of a 1.5 billion euro ($1.58 billion)...
Zhejiang Leapmotor Technology's shares were lower at the mid-day break after initially rising on news of a 1.5 billion euro investment by Stellantis in the Chinese electric-vehicle maker.
Some of the whipsawing into negative territory arose from early investors in the company seeking an exit point, said Ke Qu, an analyst at CCB International Securities. Qu added that Leapmotor is relatively short on cash compared with other listed startups in China, and can benefit from a partner to leverage its exposure and competitiveness in European or U.S. markets.Netherlands-based Stellantis said early Thursday that it is taking a roughly 20% stake in Leapmotor, with the companies planning to create a joint venture to sell Leapmotor products outside of China, starting with Europe.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alphabet shares fall after cloud revenue gains fall short of expectationsAlphabet shares fall after cloud revenue gains fall short of expectations
Read more »
Stellantis nears deal to buy stake in Chinese EV maker Leapmotor -sourceStellantis NV (STLAM.MI) is nearing a deal to acquire a stake in electric vehicle company Zhejiang Leapmotor , a source close to the matter said on Wednesday, and the car maker said it would give an important update on Thursday.
Read more »
Stellantis nears deal to buy 20% of Chinese EV maker LeapmotorA partnership could allow Stellantis to manufacture and sell some Leapmotor cars outside China, while also giving it access to the EV maker’s parts and certain technologies.
Read more »
Stellantis gains foothold in China with $1.6 bln stake in EV maker LeapmotorStellantis NV (STLAM.MI) on Thursday announced a 1.5 billion euro ($1.6 billion) deal to acquire a 20% stake in China's Leapmotor Technology (9863.HK) in a move that gives the European automaker a vital foothold in the world's largest auto market.
Read more »
Stellantis resets China strategy with $1.6 billion stake in EV firm LeapmotorStellantis resets China strategy with $1.6 billion stake in EV firm Leapmotor
Read more »
Stellantis forays into Chinese EV market with $1.6 bln stake in LeapmotorStellantis forays into Chinese EV market with $1.6 bln stake in Leapmotor
Read more »