Chijet Motor Company ( (CJET) ) just unveiled an announcement.
On February 21, 2025, Chijet Motor Company, Inc. entered into a stock purchase agreement to acquire 80% of Too Express Group Inc., a Delaware-based delivery and transportation business. This acquisition, valued at $40 million, will be paid in the form of Chijet’s Class A ordinary shares. The transaction is expected to close in the first half of 2025, subject to due diligence and customary closing conditions. This strategic move is likely to enhance Chijet’s market positioning by diversifying its operations into the logistics sector, potentially impacting stakeholders by broadening the company’s operational scope.
More about Chijet Motor Company
Chijet Motor Company, Inc. operates within the automotive industry, focusing on the production and distribution of vehicles. The company is headquartered in Yantai, Shandong, China, and is involved in expanding its market presence through strategic acquisitions.
YTD Price Performance: -18.06%
Average Trading Volume: 64,729
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $9.96M
See more insights into CJET stock on TipRanks’ Stock Analysis page.