Guangzhou Automobile Group intends to set up a intelligent network joint venture of new Energy Automobile
2017-12-28 18:02:17 [Print]
Guangzhou Automobile Group announced on the evening of December 27 that, the company and its wholly-owned subsidiary Guangzhou Automobile New Energy Vehicles will set up the joint venture of Guangzhou Automobile Weilai New Energy Vehicles jointly with Shanghai Weilai Automobile and Hubei Changjiang Weilai New Energy Industrial Fund, in order to get engaged in R&D, sales and service of intelligent network energy automobiles. The total investment of the joint venture is RMB1.28 billion with initial registered capital of RMB2,000 billion, RMB45 million from Guangzhou Automobile Group based on equity of 22.5% and RMB45 million from Guangzhou Automobile New Energy Vehicles based on equity of 22.5%.
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