Motoring

Chinese carmaker GAC to launch new car brand with Huawei

GAC expects its quarterly loss to widen to between CN¥1.1bn (R2.74bn) and CN¥1.9bn (R4.73bn) from CN¥731.6m (R1.82bn) in the first quarter, according to a stock filing on Friday.
GAC expects its quarterly loss to widen to between CN¥1.1bn (R2.74bn) and CN¥1.9bn (R4.73bn) from CN¥731.6m (R1.82bn) in the first quarter, according to a stock filing on Friday. (GAC Motor)

Chinese carmaker Guangzhou Automobile Group (GAC) said on Wednesday it had set up a new company to work with tech giant Huawei to launch a high-end car brand.

GAC invested 1.5bn yuan (R3.75bn) to set up the company, it said on WeChat.

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