Alibaba-Backed Chinese Car Service Provider Acquires Automaker Borgward In $610M Deal

News Source: China Money Network.

Chinese car service provider UCAR Inc. announced on late Monday that it would pay RMB 4.10 billion (US$610.63 million) for a majority stake in the country’s car manufacturer Beijing Borgward Automobile Co.

Alibaba-Backed Chinese Car Service Provider Acquires Automaker Borgwa...



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