Chijet Motor (CJET) Stock Is Soaring More Than 60%, Why?

Chijet Motor Company, Inc. (NASDAQ: CJET) experiences a noteworthy surge today, up 63.71% to reach $6.27 during early trading. On Friday, CJET stock closed at $3.80 with 1.68 million shares traded, marking its debut as a listed firm. Following its recent business combination, this innovative electric vehicle developer’s stock is now skyrocketing.

CJET Completes Nasdaq Listing

Chijet Motor (CJET) achieved a significant milestone on June 2, 2023, as it officially commenced trading on the NASDAQ exchange under the ticker symbol “CJET.” CJET, a prominent new energy vehicle group company, encompasses the operations of Shandong Baoya New Energy Vehicle Co., Ltd. and its holding subsidiary, FAW Jilin Automobile Co., Ltd. This enterprise combines the pioneering spirit of innovative car design and engineering with well-established vehicle production capabilities. Its ultimate goal is to establish CJET as a scenario-driven, technology-led, and experience-oriented new energy vehicle enterprise with global market reach.

CJET Aims For Global Expansion

Chijet Motor’s vision extends beyond the domestic market, aiming to provide high-quality and affordable new energy vehicle products and services to over 80% of the Chinese population. Moreover, the company envisions catering to consumers in Southeast Asia, America, the Gulf Cooperation Council (GCC) countries, and other developing nations in the future. As the world transitions into the era of intelligent mobility, Chijet Motor strives to offer a seamless and enjoyable driving experience to the general public. To facilitate its ambitious objectives, CJET will integrate top-tier research and development (R&D) and engineering resources, forging a China-led and globally connected international product creation system. This system will continuously address the R&D requirements for passenger cars, commercial vehicles, advanced technologies, and key components. Chijet Motor has already established strategic partnerships and assembled R&D teams in collaboration with renowned domestic and international research institutions. These collaborations focus on cutting-edge technologies, such as solid-state batteries, second-generation power-shunt hybrid systems, third-generation high-performance controllers utilizing silicon carbide (SiC)-based chips, low and medium voltage hydrogen fuel power cell systems, and other groundbreaking innovations.

How CJET Will Excel Further?

The NASDAQ listing represents a pivotal moment in Chijet Motor’s history, bolstering the company’s rapid and sustainable growth in the new energy vehicle sector while elevating its position in the global market. Over the next few years, CJET plans to introduce a diverse range of products, including the FB77, an affordable pure electric sedan, and the R9 PHEV hybrid SUV. Additionally, Chijet Motor (CJET) aims to develop more than a dozen new vehicles like the FV20, FB21, and FB31, covering both commercial and passenger segments. These products will encompass various power types, including pure electric, hybrid, and hydrogen fuel, to cater to the diverse needs of the public in the context of the new energy and intelligent era. By doing so, CJET seeks to provide a comprehensive and multifaceted driving experience for consumers.

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