XCMG and Tsingshan Group to invest USD843 million in NEV project
Companies will work on R&D, production, and sales of NEV and EV components
Xuzhou Construction Machinery Group (XCMG) and Tsingshan Holding Group have agreed to together invest CNY5.5 billion (USD843 million) toward a new energy vehicle (NEV) project in China, Reuters reported on 4 January citing a statement from XCMG.
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