Brief: China Automotive Systems Forms Joint Venture To Produce Electric Motors

China Automotive Systems

27/12/2018 11:03

Dec 27 (Reuters) - China Automotive Systems Inc  CAAS.O :
    * CHINA AUTOMOTIVE SYSTEMS FORMS JOINT VENTURE TO PRODUCE
ELECTRIC
MOTORS
    * CHINA AUTOMOTIVE SYSTEMS - JV, HYOSEONG (WUHAN) MOTION
MECHATRONICS SYSTEM CO. LTD. ("HMMS"), IS 51% OWNED BY CAAS AND
49% BY HYOSEONG ELECTRIC
    * CHINA AUTOMOTIVE SYSTEMS INC - TOTAL INVESTMENT IN HMMS
WILL BE
RMB 550 MILLION WITH RMB 198 MILLION FOR FIRST PHASE OF
PRODUCTION FACILITY
    * CHINA AUTOMOTIVE SYSTEMS INC - ENTERED INTO A JOINT
VENTURE
AGREEMENT WITH HYOSEONG ELECTRIC CO. LTD.
    * CHINA AUTOMOTIVE SYSTEMS - NEW PRODUCTION FACILITY BEING
PLANNED
NEAR CAAS'S HEADQUARTERS IN WUHAN WITH EXPECTED ANNUAL CAPACITY
OF 4.5 MILLION UNITS

Source text for Eikon:  ID:nPn1JB9wva 
Further company coverage:  CAAS.O 

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