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☆ Asia markets higher as Wall Street gains ahead of key U.S. jobs report
▼ + stars: | 2024-05-03 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

A gong inside the Hong Kong Stock Exchange. China Vanke's subsidiary Onewo and EV maker Zhejiang Leapmotor Technology began trading on the Hong Kong market on Thursday. Asia-Pacific markets rose on Friday, tracking Wall Street gains ahead of key U.S. employment data. Economists polled by Dow Jones expect to see 240,000 job gains in the U.S. April nonfarm payrolls report due Friday at 0830a.m. Stock markets in Japan and mainland China were shut for public holidays.

Persons: Dow Jones, nonfarm Organizations: Hong Kong Stock Exchange, China Vanke's, Zhejiang Leapmotor Technology, Apple, Investors, U.S . Federal Reserve, Stock, U.S Locations: China, Hong Kong, Asia, Pacific, U.S, 0830a.m, Taiwan, South Korea, South, Japan

☆ Jeep Maker Stellantis Bets on a Chinese EV Startup, but Is It the Right One?
▼ + stars: | 2023-10-26 | by ( Stephen Wilmot | ) www.wsj.com time to read: 1 min

Chinese companies can produce EVs 30% more cheaply than Western ones, according to Stellantis’s research. Photo: Leonhard Simon/Getty ImagesBuying into a Chinese automaker sounds like a great answer to the challenge of making cheaper electric vehicles. If only it were easier to pick winners. Chrysler owner Stellantis said Thursday that it was spending the equivalent of about $1.6 billion to buy a roughly 20% stake in Zhejiang Leapmotor Technology . It will get two board seats and become Leapmotor’s exclusive export partner via a Europe-based joint venture in which Stellantis will own 51%.

Persons: Leonhard Simon, Stellantis Organizations: Chrysler, Zhejiang Leapmotor Technology Locations: Zhejiang Leapmotor, Europe

☆ Stellantis to buy about 20% stake in China's Zhejiang Leapmotor for $1.6 bln
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

[1/2] A view shows the logo of Stellantis at the entrance of the company's factory in Hordain, France, July 7, 2021. REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsOct 26 (Reuters) - Stellantis NV (STLAM.MI) said on Thursday it would invest 1.5 billion euros ($1.58 billion) to acquire approximately 20% of Chinese electric vehicle (EV) maker Zhejiang Leapmotor Technology (9863.HK). After the subscription, Stellantis will own about 21.07% of Zhejiang Leapmotor's total issued Hong Kong shares. Stellantis, whose brands include Fiat and Peugeot, has a very small presence in China, the world's largest auto market. The group last year closed its joint venture that makes Jeeps in China with local partner Guangzhou Automobile Group (601238.SS) amid disappointing results.

Persons: Pascal, Leapmotor, Stellantis, Carlos Tavares, Sameer Manekar, Kanjyik Ghosh, Devika Syamnath, Subhranshu Organizations: REUTERS, Stellantis, Zhejiang Leapmotor Technology, HK, Hong, Hong Kong, Chrysler, Fiat, Peugeot, Renault, Guangzhou Automobile Group, Thomson Locations: Hordain, France, Zhejiang, Hong Kong, Greater China, China, Europe, Bengaluru

[1/6] A view shows model TO3 of Leapmotor, a Chinese automobile manufacturer, displayed during an event a day ahead of the official opening of the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 4, 2023. Chinese EV makers, including BYD (002594.SZ), Nio (9866.HK) and Xpeng (9868.HK) are all targeting Europe's EV market, where sales soared nearly 55% to about 820,000 vehicles in the first seven months of 2023, making up about 13% of all car sales. The arrival of Chinese EV makers in Europe has raised concerns they could dominate EV sales. Xpeng President Brian Gu said while European carmakers currently lag behind China, they have made a "huge commitment" to EVs with partnerships and large investments in technology. "I would never discount the large (carmakers) trying really hard to come back and focus on this important transition," Gu said.

Persons: Leonhard Simon, Luca de Meo, De Meo, Hildegard Mueller, Oliver Zipse, Oliver Blume, Brian Gu, Gu, Ferdinand Dudenhoeffer, Dudenhoeffer, Nick Carey, Victoria Waldersee, Gilles Gillaume Christina Amann, Zoey Zhang, Jan Schwartz, Friederike Heine, Clarence Fernandez, Sharon Singleton Organizations: REUTERS, China EV, Renault, Reuters, HK, Europe's EV, Zhejiang Leapmotor Technology, EV, German Association of, Automotive Industry, Jato Dynamics, BMW, Benz, Klasse, Volkswagen, Auto, Thomson Locations: Munich, Germany, China, MUNICH, BYD, Zhejiang, Europe, Asia

☆ China's Leapmotor unveils C10 SUV at Munich car show
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: 1 min

Robotic arms assemble cars in the production line for Leapmotor's electric vehicles at a factory in Jinhua, Zhejiang province, China, April 26, 2023. China Daily via REUTERS/File photo Acquire Licensing RightsMUNICH, Sept 4 (Reuters) - Chinese electric vehicle (EV) maker Zhejiang Leapmotor Technology (9863.HK) on Monday unveiled the C10 sports utility vehicle at the IAA car show in Munich, adding this would be its first model for global markets. Leapmotor said that it would launch five models for overseas markets in Europe, Asia, the Middle East and America over the next two years. Reporting by Zoey Zhang; Writing by Christoph Steitz; Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

Persons: Leapmotor, Zoey Zhang, Christoph Steitz, Miranda Murray Organizations: REUTERS, Rights, Zhejiang Leapmotor Technology, HK, Monday, IAA, Thomson Locations: Jinhua, Zhejiang province, China, Zhejiang, Munich, Europe, Asia, East, America

HONG KONG, Aug 23 (Reuters Breakingviews) - Volkswagen’s (VOWG_p.DE) China shortcut sets a tricky roadmap for its western rivals. An increasingly competitive Chinese market means others may also need to plot a new route. VW’s western peers may feel they do not need to follow in its tracks. Second, VW’s Xpeng deal highlights how companies need to adapt quickly to stay relevant in China. Both partnerships will see the companies jointly develop intelligent, connected electric vehicles for the Chinese market.

Persons: China’s, that’s, Bernstein, Alix, Elon Musk’s, VW’s, Auto, Neil Unmack, Pranav Kiran, Thomas Shum Organizations: Reuters, HK, FAW, SAIC, VW, BMW, upstarts, Alix Partners, Elon, Mercedes, Benz, Nissan, General Motors, Honda, Toyota, Volkswagen, Volkswagen’s Audi, Zhejiang Leapmotor Technology, Jetta, Thomson Locations: HONG KONG, China, Xpeng, Kingdom, Shanghai, Hong Kong, Zhejiang

☆ China's Leapmotor unveils new manufacturing platform, wants others to use it
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +3 min

SHANGHAI, July 31 (Reuters) - Chinese electric vehicle maker Zhejiang Leapmotor Technology (9863.HK) unveiled on Monday a new platform it developed in-house for making vehicles, which its chief executive said it wants to license to other automakers. The company hopes to sell the platform to other automakers via tech licensing agreements, he said. "We hope Leapmotor will not only be an EV brand but also a licensor of core technologies," Zhu said. Leapmotor, which employs more than 2,000 engineers, sold 44,500 units in the first half, 14% fewer than a year ago. ($1 = 7.1512 Chinese yuan renminbi)Reporting by Zhang Yan and Brenda Goh; Editing by Jacqueline Wong, Robert Birsel and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Zhu Jiangming, Leapmotor, Zhu, Tesla, Zhang Yan, Brenda Goh, Jacqueline Wong, Robert Birsel, Tomasz Janowski Organizations: Zhejiang Leapmotor Technology, HK, Companies, Shanghai Electric Group Corp, Sequoia Capital, Volkswagen, Thomson Locations: SHANGHAI, Zhejiang, Shanghai, Sequoia Capital China

Follow @KatrinaHamlin on TwitterloadingCONTEXT NEWSHong Kong-listed Apollo Future Mobility said on Jan. 12 that it had agreed to buy Chinese electric-car maker WM Motor Global for HK$15.9 billion ($2.02 billion). To fund the acquisition of its larger peer, Apollo will issue 28.8 billion new shares at HK$0.55 each. Apollo shares fell 8.6% and were trading at HK$0.23 by market close on Jan. 12. WM Motor Global filed for a Hong Kong initial public offering in May 2022, but the application lapsed in November. WM Motor Global’s owner, WM Motor Holdings, is the largest shareholder in Apollo Future Mobility, and WM Motor founder Freeman Shen sits on the latter’s board as co-chair.

HONG KONG, Nov 23 (Reuters Breakingviews) - A Hong Kong stock market debut puts Jakarta at the centre of China’s electric-car boom. Lygend Resources & Technology (2245.HK), a Chinese nickel trader, is looking to raise up to $594 million in an initial public offering to expand in Indonesia. Lygend both trades and produces nickel products, essential for stainless steel and batteries. Around a fifth of the world’s nickel resources are located in the country, which accounted for nearly 40% of ore unearthed last year, according to the company’s prospectus. Hong Kong CATL is the largest cornerstone investor, according to the prospectus.

☆ China battery maker debut is weaker than it looks
▼ + stars: | 2022-10-06 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Oct 6 (Reuters Breakingviews) - Shares of China’s CALB (3931.HK), which makes lithium batteries for electric cars, debuted flat following its $1.3 billion initial public offering. After pricing at the bottom of the range, cornerstone investors ended up with half of CALB’s total offering. One of the company’s suppliers, Tianqi Lithium (002466.SZ), bought into the deal too, reciprocating CALB’s investment in its own Hong Kong listing back in July. (By Katrina Hamlin)Register now for FREE unlimited access to Reuters.com RegisterFollow @Breakingviews on Twitter(The author is a Reuters Breakingviews columnist. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Chinese EV Maker Leapmotor Flops in Hong Kong Market Debut
▼ + stars: | 2022-09-29 | by ( Dave Sebastian | ) www.wsj.com time to read: 1 min

Two new listings stumbled in their Hong Kong trading debuts after raising a total of $1.5 billion in tumultuous market conditions, casting a cloud over a growing pipeline of companies preparing to go public in the Asian financial hub. Shares of Zhejiang Leapmotor Technology Co., a Chinese electric-vehicle maker, fell as much as 42% below their initial public offering price within their first few hours of trading on Thursday. The seven-year-old company raised $800 million in its IPO—significantly less than the $1.5 billion it had previously aimed for—after pricing its shares at the bottom of a guided range.

Leapmotor raised $800 million, while Onewo raised $733 million from their initial public offerings(IPOs). Lithium battery maker CALB is finalising its $1.28 billion Hong Kong IPO and has priced its shares at HK$38 each, according to two sources with direct knowledge of the matter. Leapmotor and Onewo IPOs received a lukewarm response from the city's retail investors who did not take up the full amount of shares offered to them, according to the firms' filings. Leapmotor shares were priced at the low end of its marketed range, while Onewo shares were priced at the mid point of its indicated price range. read more($1 = 7.8498 Hong Kong dollars)Register now for FREE unlimited access to Reuters.com RegisterReporting by Scott Murdoch; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

☆ Two large Hong Kong IPOs drop in trading debut: China EV maker Leapmotor plunges, Onewo shares dip
▼ + stars: | 2022-09-29 | by ( Abigail Ng | ) www.cnbc.com time to read: +1 min

China Vanke's subsidiary Onewo and EV maker Zhejiang Leapmotor Technology began trading on the Hong Kong market on Thursday. Chinese electric vehicle maker Leapmotor's shares tumbled as much as 32% from its offer price of 48 Hong Kong dollars ($6.11) per share. Shares of Onewo fell 7.9% from its offer price of 49.35 Hong Kong dollars ($6.29) per share in early trade, and was last 4.76% lower. Onewo, a subsidiary of property developer China Vanke, raised 5.6 billion Hong Kong dollars ($713.5 million), while Leapmotor raised 6.06 billion Hong Kong dollars ($771.7 million). Data from the Hong Kong Exchange (HKEX) show there were 48 new listings in Hong Kong from January to August in 2022, raising a total of 56 billion Hong Kong dollars ($7.1 billion) – a steep drop from the same period in 2021, in which there were 69 new listings that raised 271.4 billion Hong Kong dollars ($34.6 billion).

☆ Asia-Pacific markets open higher after Wall Street rebounds overnight
▼ + stars: | 2022-09-29 | by ( Abigail Ng | ) www.cnbc.com time to read: +1 min

Pedestrians cross a road in front of an electronic quotation board displaying the numbers of company stock prices on the Tokyo Stock Exchange in Tokyo on May 13, 2021. Shares in the Asia-Pacific rose at the open on Thursday following a rebound on Wall Street overnight. The Nikkei 225 in Japan advanced 1% and the Topix index gained 0.31%. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.72%. The S&P 500 gained 1.97% to 3,719.04, staging a comeback after notching a new bear market low the previous session.

☆ China EV maker Leapmotor set to raise $800 million in Hong Kong IPO
▼ + stars: | 2022-09-25 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com time to read: +3 min

HONG KONG, Sept 25 (Reuters) - Chinese electric vehicle (EV) maker Zhejiang Leapmotor Technology is set to raise $800 million by pricing its shares at HK$48 ($6.12) each in its Hong Kong initial public offering (IPO), said two sources with direct knowledge of the matter. Hong Kong IPO volumes have fallen nearly 90% as global markets remain roiled by China regulatory uncertainty, rising interest rates, high inflation and the Russia's war in Ukraine. Despite the Leapmotor and CALB deals, plus China Vanke's property services unit Onewo Inc raising $733 million, dealmakers are cautious there will be a solid rebound in new share sales in Hong Kong and overseas before 2023. "It feels that these IPOs are kind of one-off transactions and think the Hong Kong market is not yet fully opened up," said Shifara Samsudeen, LightStream Research analyst who publishes on Smartkarma. ($1 = 7.8493 Hong Kong dollars)Register now for FREE unlimited access to Reuters.com RegisterReporting by Scott Murdoch; Editing by Himani Sarkar and William MallardOur Standards: The Thomson Reuters Trust Principles.

☆ China EV maker Leapmotor set to raise $800 mln in Hong Kong IPO - sources
▼ + stars: | 2022-09-25 | by ( ) www.reuters.com time to read: 1 min

Register now for FREE unlimited access to Reuters.com RegisterHONG KONG, Sept 25 (Reuters) - China electric vehicle maker Zhejiang Leapmotor Technology is set to raise $800 million by pricing its shares at HK$48($6.12) each in its Hong Kong initial public offering, according to two sources with direct knowledge of the matter. The sources spoke on condition of anonymity as the information was not yet public. Leapmotor did not immediately respond to a Reuters request for comment outside of normal business hours. ($1 = 7.8493 Hong Kong dollars)Register now for FREE unlimited access to Reuters.com RegisterReporting by Scott Murdoch; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

☆ China EV maker Leapmotor launches up to $1 billion Hong Kong IPO
▼ + stars: | 2022-09-19 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterHONG KONG, Sept 20 (Reuters) - Chinese electric vehicle maker Zhejiang Leapmotor Technology is aiming to raise $1.03 billion in an initial public offering (IPO) launched on Tuesday, according to its regulatory filings. The company is selling 130.82 million shares in the deal that will be the largest IPO in Hong Kong in 2022. Leapmotor has locked five cornerstone investors - led by the Zhejiang and Jinhua industrial funds - who will buy up to $308.33 million shares, according to the filings. Leapmotor produces four electric vehicle models that mainly target China’s middle- and lower-end mass market in a 79,500 yuan-300,000 yuan ($11,466.40-$43,269.44) price range, according to its website and prospectus filed with the Hong Kong Stock Exchange. ($1 = 7.8488 Hong Kong dollars)Register now for FREE unlimited access to Reuters.com RegisterReporting by Scott Murdoch in Hong Kong; Editing by Cynthia Osterman and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

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