Chinese electric vehicle maker Zhejiang Leapmotor Technology surged as much as 5% in Hong Kong to hit a high of HK$48.5, before paring gains to 2.4%.
German automaker Volkswagen is in talks with Leapmotor about the possibility of cooperation for Volkswagen’s Jetta brand, Chinese news outlet Cailianshe reported on Wednesday, citing sources.
A joint venture between VW and state-owned Chinese automaker FAW Group could acquire a platform of EV technologies from Leapmotor, according to the report.
Notably, Leapmotor unveiled on Monday a new platform it developed in-house for making vehicles. Its CEO Zhu Jiangming said that carmaker wanted to license the platform to other automakers and it’s in advanced talks with two foreign companies about such a partnership.
