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BYD Actively Mulling Building Factory in Canada, Open to Acquiring Traditional Automakers
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BYD COMPANY (01211.HK) Executive Vice President Stella Li revealed that the company is ambitiously considering the construction of a factory in Canada, while contemplating the acquisition of more established global automobile manufacturers although establishing joint ventures is not feasible. Li hinted at the possibility of acquiring traditional car manufacturers, maintaining an open attitude towards each opportunity. Although no transactions have been completed yet, potential assets are being evaluated. BYD's total sales in the first two months of this year slid by 36% to approximately 400,000 units, but exports displayed strong momentum. Li mentioned that the two products launched earlier this month by BYD will help reverse the decline in sales, attracting many customers who have never purchased electric vehicles before within less than a week. AASTOCKS Financial News Website: www.aastocks.com |
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