XPeng's shares rose sharply in Hong Kong after the electric-vehicle maker announced a strategic partnership with ride-hailing giant DiDi Global.
XPeng’s shares rose sharply in Hong Kong after the electric-vehicle maker announced a strategic partnership with ride-hailing giant DiDi Global.
XPeng will acquire Didi’s smart auto development business assets for 5.835 billion Hong Kong dollars , it said in an exchange filing on Monday. It will issue Class A ordinary shares at HK$64.03 per share to Didi, representing 3.25% of the company’s outstanding shares. XPeng becomes “the first automotive manufacturing company will full support from the ecosystem of DiDi,” it said. The two parties plan to explore cooperation in areas including marketing and robotaxis as well as financial and insurance services.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China's Xpeng to take over Didi's autonomus vehicle unit, eyeing 2024 launch By ReutersChina's Xpeng to take over Didi's autonomus vehicle unit, eyeing 2024 launch
Read more »
China's Xpeng to take over Didi's smart EV unit, eyeing 2024 launchChina's ride hailing giant Didi said it is selling its smart EV unit to electric car company Xpeng, forming a strategic partnership to launch a new car brand in 2024.
Read more »
US condemns Hong Kong's 'harassment' of pro-democracy activists' family membersThe US State Department said Friday it “strongly condemned” the Hong Kong authorities’ “ongoing harassment” of family members of pro-democracy activists living overseas.
Read more »
China Evergrande’s first-half net loss narrows; shares to resume trading in Hong KongChina Evergrande Group, the world's most indebted developer, narrowed its first-half loss significantly mainly due to an absence of impairment loss on...
Read more »
China and Hong Kong stocks lead gains as Asia markets climb after Jackson HoleInvestors will be looking at China's factory activity on Thursday, as well as PMI readings across the region on Thursday.
Read more »
Evergrande shares plunge as much as 87% as trading resumes after 17 monthsEvergrande shares tumbled as much as 87% on the Hong Kong Stock Exchange on Monday, to as low as 22 Hong Kong cents.
Read more »