Tesla Rival Nio Secures Car Production Qualification By Acquiring Local Automaker Leopard: Report
Portfolio Pulse from Benzinga Neuro
Chinese EV maker, Nio Inc. (NYSE:NIO) has acquired local automaker Leopard, earning a car production certification. The acquisition was part of a government-orchestrated deal to qualify NIO for independent vehicle production. The purchase of Leopard will allow NIO to end its history of contract manufacturing. NIO is also reportedly considering buying plant assets from its vehicle manufacturing partner, Anhui Jianghuai Automobile Group (JAC).
October 25, 2023 | 8:53 am
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Nio's acquisition of Leopard and potential purchase of plant assets from JAC could strengthen its independent vehicle production capabilities.
The acquisition of Leopard and potential purchase of plant assets from JAC will allow NIO to end its history of contract manufacturing and strengthen its independent vehicle production capabilities. This could potentially increase NIO's production efficiency and reduce costs, which could have a positive impact on its financial performance and stock price.
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