General Enters EV Market, This Stock Continues To Jump 15% - Kakiforex.com - Financial Market Media No. 1 in the World General Enters EV Market, This Stock Continues To Jump 15% General Enters EV Market, This Stock Continues To Jump 15%

April 22, 2021

General Enters EV Market, This Stock Continues To Jump 15%

 Shares of Techna-X jumped more than 15% in early trading session today after announcing a move to enter the electric vehicle (EV) market with the development of a low-voltage drive system.


At 9.45am, the counter added 2 sen to 15 sen with 119.27 million shares changing hands.


Techna-X through its subsidiary, HK Aerospace Beidou New Energy Industry Technology Co Ltd, has entered into a joint venture (JV) agreement with Monika Mikac and Igor Pongrac, former co-founders of Rimac Automobili which is a technology powerhouse in the hyper-electric car domain along with experts material, Nordin Catic as well as electronic systems design expert, Benjamin Bozic.



According to a statement issued by Techna-X yesterday, the JV company in question is registered as E-Rex d.o.o (E-Rex).


According to Bernama, Techna-X will own 51% equity while its co-founder will hold the remaining 49%.


Adding to the statement, the E-Rex will focus on the advancement of low-voltage power networks suitable for low-voltage EV passenger vehicles and commercial vehicles up to 2.5T (currently using batteries with 250V and 800V voltage ranges for drive networks).