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GAC Group to Invest 2.16B Yuan in Establishment of Electric Drive Tech Firm
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GAC Group to Invest 2.16B Yuan in Establishment of Electric Drive Tech Firm

Aug 12, 2022
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GAC Group to Invest 2.16B Yuan in Establishment of Electric Drive Tech Firm
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GAC Group to Invest 2.16B Yuan in Establishment of Electric Drive Tech Firm
(Source: GAC Group)

On August 11, Chinese state-owned auto manufacturer GAC Group announced plans to set up a new entity tentatively named Electric Drive Technology Company for the industrialization of independent IDU electric drive systems and GMC hybrid electric coupling systems, with total project investment of 2.16 billion yuan ($320.7 million).

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