DIDI - Didi in talks to buy a third of Chinese EV maker Sinomach Automobile

DiDi Global (NYSE:DIDI) is considering to buy a stake in state-backed Sinomach Automobile's electric-vehicle unit - Reuters. DIDI intends to buy a third of Sinomach's electric-vehicle unit which would cost more than 1B yuan ($150M) to emerge from regulatory shadows as it focuses on growth. The company aims to acquire shares in small-sized automaker Sinomach Zhijun Automobile from minority shareholders and inject new capital into the firm. If the deal is completed, Didi (DIDI) will become the second-biggest shareholder of the EV maker after Sinomach Automobile. The parent and its related entities own a combined 67% of Sinomac Zhijun. Shares up 7% premarket. Read the most recent analysis on the stock here.

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Didi in talks to buy a third of Chinese EV maker Sinomach Automobile