HUAYU Automotive plans to acquire 49% stake in SAIC Qingtao

On August 27, HUAYU Automotive announced its intention to acquire a 49% stake in SAIC Qingtao from its controlling shareholder, SAIC Motor, for RMB 206 million. Upon completion of the transaction, HUAYU Automotive will hold a 49% stake in SAIC Qingtao. SAIC Qingtao was established in November 2023 as a joint venture between SAIC Motor and Qingtao Energy, with SAIC Motor holding a 49% stake and Qingtao Energy holding a 51% stake. The company's primary products are semi-solid-state and all-solid-state batteries.