China BAK (CBAK) Moves Higher as Kandi/Geely EV Approved in China
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China BAK Battery (Nasdaq: CBAK) is popping in morning trading Wednesday on solid volume.
Possible reason on the surge is that China BAK will supply batteries for the Kandi (Nasdaq: KNDI)/Geely Auto co-developed electric sedan, JL7001BEV. Notably, Kandi is also markedly higher on the session following news that the vehicle received approval in China.
China BAK is up 42 percent with nearly 1 million shares crossing.
Possible reason on the surge is that China BAK will supply batteries for the Kandi (Nasdaq: KNDI)/Geely Auto co-developed electric sedan, JL7001BEV. Notably, Kandi is also markedly higher on the session following news that the vehicle received approval in China.
China BAK is up 42 percent with nearly 1 million shares crossing.
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