iMotion Automotive Technology (Suzhou) Co., Ltd. Class H (HK:1274) has released an update.
iMotion Automotive Technology (Suzhou) Co., Ltd. has announced the formation of a joint venture with Hangsheng Electronics to establish a leading high-tech company in Suzhou, China, focusing on automated driving and cockpit integration. The new subsidiary, equally owned by both companies with a registered capital of RMB100 million, will engage in the development, production, and sale of related products, with the financial results to be consolidated into iMotion’s group financial statements.
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