HK-listed Wuling Motors jump on JV to produce new-energy vehicle batteries

Wuling Motors Holdings

11/11/2021 07:31

** Shares of Chinese automaker Wuling Motors Holdings Ltd
 0305.HK  jump 11.6% to HK$1.54, their biggest daily percentage
gain since Oct 26
    ** Stock hit its highest level since Nov 1  
    ** The Chinese specialized vehicles maker has entered into a
memorandum of understanding with Sunwoda Electronic Co Ltd
 300207.SZ  for investing and establishing a joint venture to
produce power batteries for new-energy vehicles  urn:newsml:reuters.com:*:nFWN2S120K
    ** Says the equally owned venture will develop, manufacture
and supply vehicles' power batteries and benefit the firm's
long-term development in new-energy vehicle business
    ** The Hang Seng Commerce & Industry Index  .HSNC  rises 1%,
and the Hang Seng Composite Index, tracking industrials
 .HSCIIG , jumps 2.3%
    ** The Hang Seng China Enterprises Index  .HSCE  surges 1.6%
and the benchmark index  .HSI  climbs 1.2%
    ** As of last close, stock down 38.9% this year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))