Source: Tech – South China Morning PostFAW Group, mainland China’s oldest carmaker, plans to acquire a 10 per cent stake in Stellantis-backed electric vehicle (EV) maker Leapmotor, as the state-owned automotive giant looks to enhance its competitiveness in the segment, according to Cailian, a Shanghai-based financial news outlet.
The investment would pave the way for the two companies to jointly develop new EV models, fine-tune supply-chain management and bolster overseas expansion, the report said.
Leapmotor declined to comment,…Read More