Beijing Borgward Automotive Co.,Ltd – subsidiary of Foton Motor
Assisted by the investment from its Chinese parent company Foton Motor, Borgward’s first mass-produced 4WD electric SUV, dubbed the Borgward BXi7, hit China’s market on May 9. Currently, the Stuttgart-based subsidiary has set up R&D centers in China, the U.S. and Germany to carry forward its development in EV, intelligent connectivity and autonomous driving areas.
https://www.borgward.com/
Chinese automaker Foton Motor agreed to increase capital of Beijing Borgward Automotive Co.,Ltd (hereinafter referred to as Borgward) with an additional investment of RMB 4.409 billion, Foton Motor announced on June 27. The final investment value should be subject to the appraisement by the State-owned Assets Supervision and Administration Commission of the State Council. After the capital increase, Borgward’s aggregate registered capital will be up to RMB 7.40952 billion from RMB 3 billion. The announcement said that Foton Motor will still hold 100% stake in Borgward after the capital increase completes. Meanwhile, it doesn’t constitute any affiliated transaction or material… Read more »