Great Wall Motor: Approves 6 Billion Yuan Increase in Great Wall E-An's Investment in Hua Wo Automobile
Xinhua Tech News Aug. 13, Great Wall Motor published a notice announcing that the board of directors has reviewed and approved the proposal "On Great Wall E-An's Investment in Hua Wo Automobile". The company agreed to allow its subsidiary, Great Wall E-An New Energy Automobile Co., Ltd. (referred to as "Great Wall E-An"), to increase its investment in Hua Wo Automobile Technology (Guangzhou) Co., Ltd. (referred to as "Hua Wo Automobile") by 6 billion yuan. After this round of capital increase, the company will directly hold a 71.43% stake in Hua Wo Automobile and indirectly hold a 28.57% stake through Great Wall E-An.
It is reported that Great Wall Motor invested 15 billion yuan to establish Hua Wo Automobile in March this year. As planned, Hua Wo Automobile will create an independent high-end automobile brand.
