May 11, 2018 / 7:27 AM / 17 days ago

China EV battery maker Optimum Nano has slashed output since April-spokesman

BEIJING, May 11 (Reuters) - Chinese electric vehicle (EV) battery maker Optimum Nano has slashed production levels to around 20 percent of capacity as its parent company struggles to pay off debt, a spokesman told Reuters on Friday.

Wei Haiming, securities representative for Shaanxi J&R Optimum Energy Co Ltd, which wholly owns Optimum Nano, said the battery maker had cut production in April.

On April 2, Shaanxi J&R said in a statement to the Shenzhen Stock Exchange that it had 1.998 billion yuan ($314.90 million)of debt overdue. ($1 = 6.3449 Chinese yuan renminbi) (Reporting by Tom Daly; Editing by Kim Coghill)

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