JAC Motors pursues $350m private placement for EV platform

Anhui Jianghuai Automobile Group (JAC Motors) is moving forward with a private placement of A shares to raise CNY350 million to enhance its electric vehicle (EV) capabilities. The funds will be channeled into the "High-end Intelligent Electric Drive Platform" project. With strategic collaborations already in place, JAC Motors aims to develop new generation high-end intelligent platforms, build on existing core technology, and develop new vehicles across various segments, with projected launch dates between 2025 and 2027.