The 21st Century Business Herald reported that Anhui Ankai Automobile may raise over CNY 1 billion in a rights issue to institutional investors, in order to further develop its new energy vehicle sector.
Anhui Ankai Automobile has suspended share trading since August 18th 2010.
According to a research report published by Xiangcai Securities, the company’s annual new energy vehicle delivery volume in 2009 was close to 60 units, with a gross margin about 15%.
The average sales price of an electric vehicle is nearly CNY 2 million as compared with CNY 400,000 for a comparable gasoline powered passenger vehicle.
The Ministry of Science & Technology and the Ministry of Finance are currently offering a CNY 500,000 per vehicle subsidy for pure electric passenger vehicle purchases.
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