Wuling Motors Sets Up New Unit to Advance Low-Speed Autonomous Tech; Shares Gain 3%

MT Newswires Live11-20

Wuling Motors (HKG:0305) has established a new subsidiary, YuanCore Driver Technology, to consolidate its low-speed automated driving systems business, according to a Wednesday Hong Kong bourse filing.

Shares rose nearly 2% in Thursday afternoon trade.

The new unit is wholly owned by Liuzhou Wuling Motors Industrial, in which Wuling Motors holds a 60.9% stake.

YuanCore Driver will focus on by-wire chassis platforms and unmanned vehicle technologies for applications including charging robots, autonomous shuttles, and unmanned logistics, the filing said.

Several products have already been commercialized.

Wuling said placing the business in a standalone entity will enhance commercialization efficiency, improve resource allocation, and strengthen innovation.

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