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Chinese automaker Dongfeng Motors has reached a deal with the owner of Swedish auto1 brand Saab to develop new-energy vehicles.
中国汽车制造商东风汽车与瑞典汽车品牌萨博的所有者达成协议,开发新能源汽车。
Dongfeng and National Electric Vehicle Sweden are planning to do research on producing fully-electric and extended-range electric vehicles.
As part of the deal, Dongfeng will establish a new production facility in Tianjin.
Hubei-based Dongfeng is a state-owned commercial and passenger vehicle comapny.
News of the deal sent Dongfeng shares up the 10 percent in Shanghai yesterday.
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