Chinese automaker Changan aims to list EV unit on STAR Market -sources
By Yilei Sun and Tony Munroe
BEIJING (Reuters) – Chinese state-run automaker Chongqing Changan Automobile plans to list its electrical automobile (EV) unit on Shanghai’s Nasdaq-style STAR Market, three sources briefed on the matter said, to fund a speedy progress of its enterprise.
Changan, based throughout the southwestern metropolis of Chongqing, holds 48.95% of the unit, which makes entry-level and mass-market electrical autos. The unit aims to promote over 500,000 EVs a 12 months in 2025 and one million in 2030, Changan said all through a present briefing with merchants.
This 12 months Changan objects plans to promote larger than 70,000 electrical automobiles. It plans to make its EV enterprise worthwhile by 2024 nevertheless has not set a time frame for the STAR itemizing.
Two of the sources attended the …