China Automotive Systems Significantly Increased Sales to the Rising Chinese EV Market in 2020
- 120,000 steering units shipped for electric vehicle ("EV") models so far in 2020; may reach over 140,000 units by year end 2020
- targets sales of over 200,000 steering units for Chinese EV vehicles in 2021 -
- Sales of Chinese EVs approximately doubled...
The stock surge of CAAS has been established on the expectation that the company will go private. While to my research, the expectation is highly likely to fall through and I recommend to short.
CAAS announced in May that its Board of Directors received a preliminary non-binding proposal letter from its Chairman, Mr. Hanlin Chen, to acquire all the outstanding...