Aiways buys majority stake in Jiangling Holdings

Electric-vehicle startup Aiways acquired a 50 stake in troubled domestic SUV maker Jiangling Holdings, paving the way to launch EV output.
 
Jiangling Holdings was relaunched last week as a 50-25-25 three-way partnership among Aiways, Jiangling Motors Group and Changan Automobile Co. in Nanchang, capital of east China’s Jiangxi province.