NIO, GAC to set up new NEV JV in China
Two partners to jointly invest a total of CNY1.3 billion (USD198 million) in the new JV
Chinese electric vehicle (EV) start-up NIO and automaker Guangzhou Automobile Group (GAC) will set up a new energy vehicle (NEV) joint venture (JV), called GAC NIO New Energy Vehicle Co. Ltd., NIO announced in a press release last week (28 December).
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