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Chijet Motor Company ( (CJET) ) has shared an update.
On February 13, 2025, Chijet Motor Company’s subsidiary, Shandong Baoya, was informed of a lawsuit trial date set for March 20, 2025, filed by Yantai Public Transportation Co., Ltd. The lawsuit involves an alleged default under a loan agreement, with the plaintiff seeking damages of approximately US$100 million. Shandong Baoya plans to defend itself vigorously and explore settlement options, which could significantly impact the company’s financial standing and stakeholder confidence.
More about Chijet Motor Company
Chijet Motor Company, Inc. operates in the automotive industry, focusing on the production of new energy vehicles through its primary subsidiary, Shandong Baoya New Energy Vehicle Co., Ltd., based in China.
YTD Price Performance: -21.15%
Average Trading Volume: 64,629
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $9.59M
For a thorough assessment of CJET stock, go to TipRanks’ Stock Analysis page.