FAW plans to acquire shares in Leapmotor

FAW Group is planning to acquire a stake in Leapmotor, becoming a strategic shareholder. Reportedly, FAW is initially planning a tender offer to acquire approximately 10% of Leapmotor shares, a plan that is already underway within FAW. The two companies have previously reached a strategic partnership to jointly develop new energy passenger vehicles and parts, and are exploring the possibility of capital cooperation.