Chinese automaker FAW signs deal to acquire stake in Zhuoyu
FILE PHOTO: People visit the FAW booth during a media day for the Auto Shanghai show in Shanghai, China April 24, 2025. REUTERS/Go Nakamura/ File Photo
BEIJING :Chinese automaker FAW signed a deal to buy into local driving assistance technology firm Zhuoyu, the country's market regulator said on Monday in a notice seeking public comment on the investment through October 1.
FAW plans to acquire holdings now held by New Territory Technology Company. After the deal, FAW will take a 35.8 per cent stake in Zhuoyu, while Hong Kong-based New Territory's stake in Zhuoyu will drop to 34.85 per cent from the current 70.65 per cent.
Source: Reuters
