Evergrande Auto Sells e-Traction to British EV Maker Saietta

(Source: e-Traction)

British electric vehicle (EV) maker Saietta has said that it is acquiring electric powertrain company e-Traction from China Evergrande Group’s automotive unit in a deal worth up to 2 million euros ($2.31 million), Reuters reported on November 11.

In 2019, Evergrande announced the acquisition of 70% equity of e-Traction’s parent compan…