Seres Group plans $1.9 billion investment to improve financial health of subsidiary, acquire Longsheng New Energy Technology
The investment aims to boost Seres Auto's capital and acquire Longsheng for smart EV factory ownership in Chongqing, enhancing production
Seres Group has announced plans to invest 13.2 billion Chinese yuan ($1.9 billion) to expand its intelligent product development and manufacturing capabilities, Yicai Global reported on Sept. 18. The planned investment includes a 5 billion yuan capital injection into its subsidiary, Seres Automobile, to nearly double its registered capital to nearly 10 billion yuan.
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