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Shareholder of WKW Automotive Parts acquires Germany’s EV maker

BEIJING – Beijing WKW Automotive Parts Co., Ltd. (WKW) said on November 17 that its shareholder Beijing Central Investment Management Co., which owns 30 percent stakes in the company, signed an agreement to acquire 75 percent stakes in Germany’s electric car manufacturer Elektrofahrzeuge-Stuttgart GmbH.

Elektrofahrzeuge-Stuttgart GmbH, which is committed to developing, refitting, manufacturing and selling EVs, will not compete with WKW, a Sino- German joint venture supplier of passenger vehicle interiors and exteriors systems, said the company.

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