GAC Group acquires Mitsubishi shares, GAC Mitsubishi becomes a wholly-owned subsidiary

GAC Group announced that it has acquired the equity of GAC Mitsubishi held by Mitsubishi, making GAC Mitsubishi a wholly-owned subsidiary of GAC Group. At the same time, GAC Mitsubishi's Changsha plant will be taken over by GAC Aion, and more than 1,100 employees of the plant will sign new labor contracts with GAC Aion.