Anhui Ankai Scraps Plan to Set Up JV With JAC Motors, Two Others

MT Newswires Live05-31

Anhui Ankai Automobile (SHE:000868) terminated plans to establish a joint venture with Anhui Jianghuai Automobile Group (SHA:600418) or JAC Motors, Fudi Battery and Zhejiang Storage Energy Group, according to a Friday filing on the Shenzhen Stock Exchange.

The parties failed to reach an agreement on the joint venture, the Chinese automobile maker said.

Anhui Ankai Automobile's shares dropped more than 3% and JAC Motors' shares fell 1% at the close of trading on Friday.

Price (RMB): Â¥4.11, Change: Â¥-0.11, Percent Change: -2.61%

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