Chinese automaker FAW SZSE:000800 signed a deal to buy into local driving assistance technology firm Zhuoyu, the country's market regulator said on Monday in a notice seeking public comment on the investment through October 1.
FAW plans to acquire holdings now held by New Territory Technology Company. After the deal, FAW will take a 35.8% stake in Zhuoyu, while Hong Kong-based New Territory's stake in Zhuoyu will drop to 34.85% from the current 70.65%.