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A view of the electric vehicle (EV) factory of China Evergrande New Energy Vehicle Group in Tianjin, China October 20, 2021. REUTERS/Yilei Sun
HONG KONG, Aug 15 (Reuters) – Shares of China Evergrande New Energy Vehicle Group (0708.HK)(NEV) are set to open 14.7% higher on Tuesday, after the company said it has agreed to sell new shares to U.S.-listed NWTN (NWTN.O) for $500 million.
After completion of the deal, NWTN, a mobility technology company, will hold about a 27.5% stake in NEV.
($1 = 7.8205 Hong Kong dollars)
Reporting by Clare Jim; Editing by Muralikumar Anantharaman
Our Standards: The Thomson Reuters Trust Principles.
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