Reported about 16 hours ago
Chinese battery manufacturer CATL is divesting its 20.6% share in Valmet Automotive to the Finnish government and another investor due to declining electric vehicle sales in Europe. The Finnish state is also investing an additional 35 million euros to strengthen Valmet's operations, in light of a challenging market environment affecting the automobile industry. Following this transaction, the Finnish government will control a 79% stake in Valmet Automotive, as the company diversifies into new sectors.
Source: YAHOO