IKD plans to issue 1.57 billion yuan convertible bonds to expand new energy vehicle business

On June 16, IKD issued a convertible corporate bonds plan (second revision) to raise RMB1.57 billion (USD235 million) for the intelligent manufacture technology industrial park project. After the completion of the project, IKD's production capacity of NEV-related products will increase by 7.1 million units. The fundraising project focuses on three power system core components and large structural parts of new energy vehicles.