Guangzhou Auto's (GAC) component subsidiaries plan investments in factory relocations
Proposed investments were approved at a board meeting held yesterday (2 June)
Guangzhou Automobile Spring Co, a subsidiary of Guangzhou Automobile Co (GAC), is investing CNY71.3 billion (USD11.6 billion) to implement the relocation of its factory, as well as towards its planned expansion. Meanwhile, Guangzhou Ace Automotive Interior Systems Inc, also a GAC subsidiary, is planning an investment of CNY98.922 billion towards the relocation of Guangzhou Ti Aisi's factory into the interior unit's premises. The proposed investments were approved at a board meeting held yesterday (2 June) and made public in a company statement.
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