FAW Equity Investment

Zhuzhou CRRC Times Electric and FAW Equity Investment will jointly establish a 500 million yuan joint venture (50% each) to develop, manufacture and sell electric drive systems for new energy vehicles, supplying FAW's NEV products.

Zhuzhou CRRC Times Electric and FAW Equity Investment will set up a joint venture with registered capital of CNY 500 million, each contributing 50%, to develop, manufacture and sell electric drive systems for FAW's new energy vehicles.