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BYD COMPANY Negates Plans to Acquire Maserati
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BYD COMPANY (01211.HK) is purportedly weighing acquisition of Maserati, the ultra-luxury brand under multinational automaker Stellantis (STLA.US). In response, BYD told Chinese media that the information is untrue and constitutes a rumor. Prior to this, BYD Executive Vice President Stella Li said the company is discussing the possibility of acquiring or taking over factories in Italy and other locations, and is seeking any available factories in Europe with the aim of utilizing existing idle capacity. The group prefers to operate factories independently rather than through joint ventures, Li remarked. BYD is reportedly not only negotiating with Stellantis Group, but is also in talks with other European automakers. AASTOCKS Financial News |
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