Recently, it has been reported by the media that iAuto Group has officially signed a comprehensive strategic cooperation agreement with Huaren Yuntong. iAuto Group plans to invest up to $1 billion to assist Huaren Yuntong in rebuilding its team and resuming production, with the aim to complete the transaction before the release of the financial report for the first half of 2024.
It is reported that the scope of cooperation between the two parties includes manufacturing cooperation to fulfill sales orders, equity mergers and acquisitions, technical cooperation, brand and international sales integration, as well as supply chain and production integration. This aims to promote effective business restructuring, resolve overcapacity investments, and optimize the business environment.
iAuto Group is registered and established in Delaware, USA, holding numerous patented technologies in the field of clean energy vehicle powertrains and motor systems. It advocates for the global adoption of genuine clean energy to replace fossil fuels and eliminate vehicle pollution. Choosing Huaren Yuntong is due to their proven innovation in design and technology.
