China's Kandi to acquire cell producer Jiangxi Huiyi, shares down
19/07/2021 14:55
** U.S.-listed shares of Chinese electric automaker KNDI.O
down 1.1% at $5.28, set to snap three straight sessions of gains
** KNDI says it will acquire China-based cell producer
Jiangxi Huiyi for 50 mln yuan ($7.72 mln) in cash to expand its
battery cell business urn:newsml:reuters.com:*:nGNXf0WND
** Acquisition to executed through co's unit Zhejiang Kandi
Technologies Group
** As of last close, stock had fallen ~23% this year
($1 = 6.4788 Chinese yuan)
(Reporting by Tiyashi Datta in Bengaluru)
((tiyashi.datta@thomsonreuters.com))