Bethel joins hands with Chery Technology to acquire 65% equity of Zhejiang Wanda

Bethel and Chery Technology's subsidiary Ruizhi Lianneng jointly acquired 65% of Zhejiang Wanda's shares, of which Bethel acquired 45% with its own funds of RMB 200 million. After the acquisition, Bethel will become Zhejiang Wanda's largest shareholder and hold more than half of the seats on its board of directors. This move aims to strengthen Bethel's layout in the field of automotive steer-by-wire, and make full use of Zhejiang Wanda's advantages in steering gears and steering column series products, further consolidating and enhancing Bethel's position in the automotive brake system market.