Europe's Forvia talking to more Chinese automakers looking to set up in Europe [Reuters]
Li Auto Inc. - American Depositary Shares (LI)
Company Research
Source: Reuters
, opens new tab , on Thursday said it is negotiating with two more Chinese carmakers seeking to expand production in Europe as it tries to reduce its dependency on China's BYD. Car parts makers like Forvia, hurt by lagging global car sales, are seeking to take advantage of Chinese carmakers spreading their wings and looking to challenge legacy rivals on their home turf. "BYD is having a fairly clear and advocated plan in Hungary.... And we know also that other Chinese OEMs are considering also sites in Europe. I know at least two with whom we are negotiating," said Olivier Durand, Forvia's Chief Financial Officer during a press conference following a first quarter sales update Report this ad BYD (002594.SZ) New Tab , opens new tab , a major Chinese carmaker planning to start vehicle production in Hungary, created a joint venture with Forvia in 2017 in Thailand. Forvia said it aims to reduce its dependency on BYD after sales fell between the groups over the first quarter,
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LI
News
- Li Auto delivers 25,787 vehicles in April, sequentially down 11% [Seeking Alpha]Seeking Alpha
- Li Auto Inc. April 2024 Delivery Update [Yahoo! Finance]Yahoo! Finance
- Li Auto Inc. April 2024 Delivery UpdateGlobeNewswire
- ROSEN, SKILLED INVESTOR COUNSEL, Encourages Li Auto Inc. Investors to Inquire About Securities Class Action Investigation – LIGlobeNewswire
- Li Auto Inc. Announces Completion of the Put Right Offer for Its 0.25% Convertible Senior Notes due 2028 [Yahoo! Finance]Yahoo! Finance
LI
Sec Filings
- 5/1/24 - Form 6-K
- 4/30/24 - Form SC
- 4/23/24 - Form 6-K
- LI's page on the SEC website