Kandi Technologies Group, Inc.NASDAQ
Jan. 6, 2015, 8:20 AM
- The spinoff of Ferrari could give Fiat Chrysler Automobiles (NYSE:FCAU) enough breathing room to seek a merger partner, according to auto industry analysts.
- The rising cost of developing clean cars in Europe and the U.S. sets the stage for automakers to join forces through mergers and extended partnerships.
- "Eventually it must happen," notes FCA chief Sergio Marchionne on the topic of mega-mergers.
- No company is too big to be ruled out of the merger discussions due to the benefits of scaling investment costs and matching strengths/weaknesses in Europe, Latin America, China, and the U.S, note insiders.
- Automakers: GM, F, TM, FCAU, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, OTCPK:FUJHY, OTCPK:MMTOF, OTCPK:PEUGF, OTC:RNSDF, TTM, KNDI. OTCPK:SZKMY, OTCPK:MZDAY.
Dec. 24, 2013, 10:14 AM
- A JV company that's 50%-owned by Kandi Technologies (KNDI +8.2%) is paying RMB640.6M ($104.1M) to assume full ownership of Kandi Electric Vehicles (i.e. Kandi Shanghai) from Shanghai Maple, a subsidiary of Chinese automaker Geely. $65M will be paid within 90 days of the deal's signing, and the remainder will be paid within 360 days of signing. (PR)
- Kandi asserts the deal "better consolidates the resources and expertise of Kandi and Geely" in EV R&D, manufacturing, sales, and marketing.
- Kandi formed a JV with Shanghai Maple in March; each company contributed $80M.