Karma Automotive owner Wanxiang plans to build EV plant in China
Chinese plant will have annual production capacity of 50,000 units
Wanxiang Group, the owner of Karma Automotive, plans to invest CNY2.75 billion (USD375 million) for building a new electric vehicle (EV) manufacturing plant in Hangzhou, China, reports Bloomberg citing the company’s application for an environmental impact review posted on its website. The plant will have capacity to produce 50,000 cars annually.
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