China's Kandi to acquire cell producer Jiangxi Huiyi, shares down

Kandi Technologies

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))