Brief: Kandi Technologies Exits Geely Affiliation

Kandi Technologies

15/03/2021 13:15

March 15 (Reuters) - Kandi Technologies Group Inc  KNDI.O :
    * KANDI TECHNOLOGIES EXITS GEELY AFFILIATION
    * KANDI TECHNOLOGIES GROUP INC - IT EXITED ITS POSITION IN
FENGSHENG AUTOMOTIVE TECHNOLOGIES GROUP CO., LTD
    * KANDI TECHNOLOGIES GROUP INC - TO FORMALIZE EXIT, KANDI'S
UNIT,
ZHEJIANG KANDI VEHICLES CO., LTD COMPLETED EQUITY TRANSFER
AGREEMENT WITH GEELY
    * KANDI TECHNOLOGIES - KANDI'S 22% EQUITY INTEREST IN
FENGSHENG
WAS TRANSFERRED TO GEELY IN EXCHANGE FOR RMB 308 MILLION (ABOUT
$47.3 MILLION) IN CASH

Source text for Eikon:  ID:nGNX5pM7QG 
Further company coverage:  KNDI.O 

 ((Reuters.Briefs@thomsonreuters.com;))