Chinese state-owned automaker, FAW Group, has agreed to purchase a 35.8% stake in compatriot advanced driver-assistance (ADAS) technology company Zhuoyu, according to a filing from the country’s market regulator. The deal involves FAW acquiring shares currently held by Hong Kong technology company New Territory, whose stake will fall from 70.65% to 34.85% after the transaction.
Subscribe to Automotive World to continue reading
Sign up now and gain unlimited access to our news, analysis, data, and research
Already a member?
