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Jiangte buys 50 percent share of Yichun Bus

 Jiangte Electric Vehicles Co. has announced the signing of a contract with environmentalist Tian Zhongwen to purchase his share of Jiangxi Yichun Bus Manufacturers Co., Ltd, according to a cnstock.com report.

 The purchase will be on the order of ¥33 million ($5.37 million), and accounts for 50 percent of Yichun stock. According to this report, this is a step in the company’s development of their lithium NEV battery production plans.

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