tiprankstipranks
China Liberal (NASDAQ:CLEU) Surges on LOI to Acquire EV Maker Aiways
Market News

China Liberal (NASDAQ:CLEU) Surges on LOI to Acquire EV Maker Aiways

Shares of China Liberal Education Holdings (NASDAQ:CLEU) are surging today after the company signed a non-binding letter of intent to acquire Aiways Holdings. The latter manufactures electric vehicles.

The terms of the LOI indicate a valuation between $5 billion and $6 billion for Aiways. At present, both companies are conducting due diligence reviews and working towards a definitive agreement.

Aiways currently target the mid-price new electric vehicle (NEV) segment in China and the EU. Its plant in China presently has an annual capacity of 150,000 vehicles.

Read fullĀ Disclosure

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles