GAC Group to invest over USD320 million for setting up new electric drive technology company


The new company will be tentatively named Electric Drive Technology Company

Chinese state-owned vehicle manufacturer GAC Group plans to set up a new company to develop and industrialize electric drive systems and hybrid electric coupling systems, a news report published by PANDAILY said on 12 August 2022. GAC Group aims to invest CNY2.16 billion (USD320.7 million) in setting the said company, which will be tentatively named as Electric Drive Technology Company, it said, citing a company announcement on 11 August 2022.

Thank you for visiting S&P Global AutoTechInsight.

*A subscription to News & Analysis includes four S&P Global-selected sector-specific analytical pieces per month. Access to all analytic pieces across all domains comes with a subscription to All Domains. Please click here to subscribe.

To get access to the AutoTechInsight full suite of services, please contact a sales representative by clicking here.

Already a subscriber? Please log in here

preload preload preload preload preload preload