Stock Market News

Juneyao Airlines Parent Plans to Enter Electric Vehicle Market

2022.08.23 21:25

Juneyao Airlines Parent Plans to Enter Electric Vehicle Market
Juneyao Airlines Parent Plans to Enter Electric Vehicle Market

By Michael Elkins

According to a report released by Reuters on Tuesday, Juneyao Group, the parent of Juneyao Airlines Co Ltd (SS:603885), plans to start making electric vehicles. Citing people familiar with the matter, the company is seeking a way to diversify from businesses that have been hit hard by COVID.

The people speaking to Reuters declined to be named as they were not authorized to speak to media. However, they told reporters that the Shanghai-based Juneyao is setting up a team internally to explore EV making plans. They added that the plans are still in the preliminary stage, but the company hopes to tap into a growing market that has been aided by generous government subsidies and tax exemptions.

Juneyao on July 20 registered a company with 1 billion yuan ($146.23 million) of capital for businesses including EV sales, auto parts research and development and EV charging infrastructure operations, according to Qichacha, an information provider that uses official company registration sources.

Wang Han, the son of the late Juneyao co-founder, Wang Junyao, is also a majority shareholder of Yudo Auto, a Fujian-based EV maker, according to Qichacha.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 83,116.27 1.51%
ethereum
Ethereum (ETH) $ 1,891.88 2.65%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.30 4.39%
bnb
BNB (BNB) $ 601.55 2.21%
solana
Solana (SOL) $ 127.11 6.10%
usd-coin
USDC (USDC) $ 1.00 0.00%
cardano
Cardano (ADA) $ 0.701501 6.85%
dogecoin
Dogecoin (DOGE) $ 0.168844 4.27%
tron
TRON (TRX) $ 0.213073 3.76%
staked-ether
Lido Staked Ether (STETH) $ 1,890.94 2.62%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 82,955.23 1.45%
pi-network
Pi Network (PI) $ 1.39 4.51%
leo-token
LEO Token (LEO) $ 9.79 0.76%
chainlink
Chainlink (LINK) $ 13.46 4.75%
the-open-network
Toncoin (TON) $ 3.43 0.20%
usds
USDS (USDS) $ 1.00 0.01%
stellar
Stellar (XLM) $ 0.265966 3.47%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,257.11 3.04%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 2.96%
hedera-hashgraph
Hedera (HBAR) $ 0.18382 5.01%
avalanche-2
Avalanche (AVAX) $ 18.35 3.33%
sui
Sui (SUI) $ 2.24 5.51%
litecoin
Litecoin (LTC) $ 90.31 3.03%
mantra-dao
MANTRA (OM) $ 6.83 3.24%
bitcoin-cash
Bitcoin Cash (BCH) $ 334.85 2.91%
polkadot
Polkadot (DOT) $ 4.31 1.28%
ethena-usde
Ethena USDe (USDE) $ 0.99992 0.02%
weth
WETH (WETH) $ 1,892.52 2.59%
bitget-token
Bitget Token (BGB) $ 4.36 2.22%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.02%
hyperliquid
Hyperliquid (HYPE) $ 13.22 8.14%
whitebit
WhiteBIT Coin (WBT) $ 28.46 1.62%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,005.29 2.86%
monero
Monero (XMR) $ 211.77 0.07%
uniswap
Uniswap (UNI) $ 6.13 1.52%
susds
sUSDS (SUSDS) $ 1.04 0.01%
dai
Dai (DAI) $ 0.999962 0.02%
aptos
Aptos (APT) $ 5.17 4.03%
near
NEAR Protocol (NEAR) $ 2.52 5.91%
okb
OKB (OKB) $ 48.89 4.90%
mantle
Mantle (MNT) $ 0.822839 10.02%
pepe
Pepe (PEPE) $ 0.000007 10.46%
internet-computer
Internet Computer (ICP) $ 5.59 4.19%
ethereum-classic
Ethereum Classic (ETC) $ 17.53 2.82%
gatechain-token
Gate (GT) $ 21.34 1.54%
ondo-finance
Ondo (ONDO) $ 0.821713 6.71%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 83,104.27 1.60%
aave
Aave (AAVE) $ 165.98 4.71%
tokenize-xchange
Tokenize Xchange (TKX) $ 29.88 1.67%