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Market Chatter: Chinese Auto Majors Exploring Plans to Produce in Canada via JVs

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China's BYD (HKG:1211, SHE:002594) and Chery Automobile (HKG:9973) are considering plans to produce electric vehicles in Canada via joint ventures with local partners, Bloomberg reported Monday, citing a Canadian minister.

Geely Automobile's (HKG:0175) parent Zhejiang Geely and Shanghai Launch Automotive Technical are also considering similar plans, Canadian Industry Minister Melanie Joly reportedly said.

The plans would help the major Chinese auto manufacturers use Canada's low-tariff quota of about 6% for their electric vehicles.

BYD, Geely, Chery Automobile, and Launch Automotive did not immediately respond to requests for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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