Hozon New Energy Automobile has secured support from its suppliers for a debt-to-equity swap plan, aimed at addressing the company's 2 billion yuan debt, Yicai Global reported Thursday.
The move has been endorsed by suppliers including Contemporary Amperex Technology (SHE:300750) or CATL and Gotion High-tech (SHE:002074), the report said.
The plan is designed to facilitate the resumption of Hozon's production, according to the report
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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