Guangzhou Automobile Group Co (GAC) invests in developing new models
Chinese automakers buying international technology companies and employing established international automotive designers.
Guangzhou Automobile Group Co (GAC) is to invest CNY2.9 billion (USD475 million) to develop three new products and expand production of its Trumpchi model, reports Automotive News China. Of the CNY2.9 billion, around CNY1.7 billion will be used to expand production at its production plant, with the remainder allocated for new model development for the A28, AD2, and A68 models, the report states.
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