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Zero running Motor: 194 million new H shares have been issued to Stellantis, and the subscription has been completed

2024-06-19 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >

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CTOnews.com november 20 news, zero run car today issued an announcement saying that "the conditions under the subscription agreement have been met." The Subscription Agreement was completed on 20 November 2023 and 194 million new H Share Subscription Shares were issued to Stellantis (Subscription Completion).

▲ The zero-run announcement stated that 45 million domestic shares and 45 million H shares held by Dahua Technology had been transferred to Stellantis (completion of the Domestic Share and H Share Purchase and Sale Agreement). The Domestic Share and H Share Sale and Purchase Agreement was completed on 20 November 2023 and Dahua Technology no longer holds any shares.

CTOnews.com previously reported that Stellantis Group announced last month that Stellantis Group plans to invest about 1.5 billion euros (CTOnews.com Note: currently about 11.79 billion yuan) to acquire about 20% of the equity of Zero Run Automobile, which will make Stellantis Group an important shareholder of Zero Run Automobile. Stellantis Group will have 2 seats on the board of directors of Zero Run Automobile, and Stellantis Group will appoint the CEO of Zero Run International Joint Venture Company.

▲ Left: Carlos Tavares, global CEO of Stellantis Group, right: Zhu Jiangming, founder, chairman and CEO of Zero Run Technology. The transaction also confirmed that Stellantis Group and Zero Run Automobile will establish a joint venture company called "Leapmotor International" at a ratio of 51%:49%. Except for Greater China, the joint venture has exclusive rights to export and sell to all other markets in the world, as well as to manufacture zero-running car products locally.

In addition to focusing on further increasing sales of zero-run cars in China, the world's largest auto market, the partnership will also rely on Stellantis Group's mature commercial layout in other markets around the world to boost sales of zero-run car brands in the local market, starting with Europe, according to Zero-Run.

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