China, home of the some of the world’s wealthiest makers of electric cars, added a new billionaire on Tuesday that manufacturers electric scooters.
Shares in AIMA Technology Group rose by their daily 44% upper limit at the Shanghai Stock Exchange to close at 40.12 yuan, leaving founder Zhang Jian’s stake worth 11.5 billion, or $1.8 billion.
AIMA, known for its celebrity endorsement by Taiwan singer Jay Chou, had sales worth 12.9 billion yuan in 2020.
China boasts the world’s second-largest number of billionaires after the United States.
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