Luxshare Precision to form EV joint venture with Chery New Energy

Luxshare Precision signed a strategic cooperation framework agreement with Chery Group to form a joint venture with Chery New Energy for development and manufacturing of new energy vehicles. Luxshare's controlling shareholder will buy stakes in Chery Holdings, Chery Automobile, and Chery New Energy for RMB 10.054 billion.

“Luxshare Precision made an announcement that it signed a strategic cooperation framework agreement with Chery Group today and plans to form a joint venture with the latter's Chery New Energy to engage in the development and manufacturing of new energy vehicles (NEVs).”cnevpost.com

• 1 source
• cnevpost.comApple supplier Luxshare plans to form JV with Chery to produce EVsFeb 11, 2022

Summarized from public sources; check the original articles before acting on it.