Juneyao Airlines owner branching out into electric vehicles

The parent company of Chinese carrier Juneyao Airlines is diversifying beyond its Covid-ravaged aviation business.

Juneyao Group has set up a unit for the electric vehicles (EV) market.

Juneyao, which is owned by Chinese billionaire Wang Junjin, hasn’t shared any details but sources said it is exploring EV manufacturing.

Juneyao recently registered a new business entity for EV sales, research and development and EV charging capabilities.