Market Chatter: GAC to Invest $25 Million in Chinese Autonomous Driving Startup

MT Newswires Live10-14

Guangzhou Automobile Group or GAC (HKG:2238, SHA:601238) will invest $25 million in Chinese self-driving startup company Pony.ai, Yicai Global reported Friday, citing the automobile company's announcement.

GAC Capital, a subsidiary of GAC, approved the investment, Yicai said.

The investment will help speed up the development of GAC's autonomous driving business, the filing said.

GAC shares closed 4% lower on Monday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price (HKD): $2.82, Change: $-0.11, Percent Change: -3.75%

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