XPeng partners with DiDi Global
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 28 August 2023
⏱️ 7 minutes
🧾️ Download transcript
Summary
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning. Today is Monday, August 28th, and I'm your host Julie Morgan. |
| 0:12.0 | Ex-Pang is purchasing DD Global Smart-Car Arm. |
| 0:16.0 | 3M reportedly agrees to pay more than 5.5 billion dollars in a settlement over military earplugs, and J-bull is selling its China manufacturing business. |
| 0:27.0 | Here's what's making headlines today. |
| 0:30.0 | X-Pang announced late on Sunday that it will accelerate the adoption of smart EVs and technologies through a strategic partnership with D.D. Global. |
| 0:39.4 | The $744 million partnership includes the purchase of DD's smart car arm. |
| 0:45.1 | The Chinese electric vehicle maker plans to launch an all new EV brand in 2024, |
| 0:51.1 | currently being developed under the project name Mona that's M-O-N-A. |
| 0:56.2 | The vehicles are expected to cost around $20,000. |
| 1:00.0 | On the financial end of the partnership, X-Pang will issue Class 8 ordinary shares, representing approximately 3.25% of the outstanding |
| 1:09.3 | share capital upon completion of the issuance to acquire assets related to D.D.D.D. |
| 1:17.0 | will thereby become a strategic shareholder of X.P.E.V. |
| 1:21.1 | With a lock-up period of 24 months after the initial closing. |
| 1:25.0 | Pre-market X-Pang is up 4%. |
| 1:28.0 | 3M has tentatively agreed to a more than 5.5 billion dollar settlement to resolve more than 300,000 |
| 1:36.1 | lawsuits claiming the company sold the US military defective combat earplugs. |
| 1:41.8 | According to a Bloomberg report on Sunday, which cited people familiar with the matter. |
| 1:46.3 | Under this settlement, 3M is expected to pay out the money over five years. |
| 1:50.9 | 3M's board still needs to sign off on the agreement. |
| 1:54.4 | A 3M representative told Bloomberg the company does not comment on rumor or speculation. |
| 2:00.3 | 3M, which is best known for Scotch tape and Post-it notes, is entangled in two legal disputes, |
... |
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