China's GAC Group to set up $4.2b fund to strengthen NEV presence

China's GAC Group to set up $4.2b fund to strengthen NEV presence

A parking bay reserved for electric car charging can be seen on display in London, Britain, October 19, 2018. REUTERS/Simon Dawson/File photo

China’s GAC Group signed an agreement on Wednesday with partners to set up an investment fund which aims to strengthen its business development in the new energy vehicle industry.

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