GAC Group invests in Chenzhi Technology to strengthen the layout of the key components industry chain of intelligent wire-controlled chassis

GAC Group issued an announcement that in order to strengthen the coordinated layout of the industrial chain in the field of key components such as intelligent wire-controlled chassis, it agreed that its wholly-owned subsidiary GAC Auto Parts Co., Ltd. would increase its capital in Chenzhi Technology by no more than RMB 550 million and acquire a 30% stake.