BYD Shares Rise After Report On Toronto-Area Stellantis Plant Inquiry

BYD's Hong Kong-listed shares rose 4% to HK$90.7, while its Shenzhen-listed shares gained 1.7% to RMB89.68, according to ETNet. The A-share traded at a 14.3% premium to the H-share. Bloomberg reported that BYD has asked about taking over an idle Stellantis factory in the Toronto suburbs. Brampton Mayor Patrick Brown said BYD first contacted him about six months ago to discuss producing buses at the plant. Brown also said he received inquiries from Leapmotor International, the joint venture between Zhejiang Leapmotor Technology and Stellantis, as well as from an Italian automaker. Bloomberg said in April that Stellantis was in talks with Leapmotor about producing electric vehicles in Canada. Separately, Hong Kong's Hang Seng Index fell 0.5% to 25,449, while the Hang Seng China Enterprises Index was little changed at 8,505 and the Hang Seng Tech Index rose 0.1% to 4,625.