Guangzhou Automobile Group (SHA:601238, HKG:2238) or GAC partnered with Huawei Technologies to establish a subsidiary that will launch a new luxury vehicle brand, Yicai Global reported Thursday, citing GAC's post on WeChat on Tuesday.
The venture, Huawang Automotive Technology Guangzhou, will introduce a smart NEV priced about 300,000 yuan, an insider told the media outlet.
The Chinese automobile maker will inject 1.5 billion yuan into the venture, the report said.
GAC's Hong Kong shares dropped over 4% and A shares fell over 1% in recent trade.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。