Chijet Motor’s stock, which trades under the CJET ticker, first started trading on the Nasdaq Exchange on June 2. The company says that this public listing is a major milestone as it moves forward with plans to release EVs in several countries.
Chijet Motor plans to focus on its home country of China first with the goal of providing “cost-effective new energy vehicle products and services to more than 80% of mass consumers in China.” The company also intends to spread its business to Southeast Asia, America, GCC, as well as other developing countries.
Chijet Motor intends to release its first EV in the coming years. This would be the FB77, which is an electric sedan. Other models in the works are its R9 PHEV hybrid SUV and its models FV20, FB21, and FB31. The company seeks to offer a mixture of commercial and passenger EVs with these releases.
CJET Stock Movement on Monday
Now that CJET stock is public, investors are taking notice of it this morning. This has the company’s shares seeing heavy trading today. As of this writing, more than 2 million shares of the stock have changed hands. For the record, the company traded roughly 1.7 million shares during its public debut on Friday.
CJET stock is up 54.3% as of Monday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.