According to proclamation of Shanghai Diesel Engine Co., Ltd, Shanghai Electric is intended to transfer their 50.32% holding of Shaihai Diesel Engine stock share to Shanghai Automotive Industry Corporation.

Once the transfer is successful, Shanghai Automotive Industry Corporation will be the biggest shareholder of Shanghai Diesel Engine and Shanghai Automotive Industry Corporation will solve their biggest problem in producing heavy duty vehicles. Their strategy to expand in commercial vehicle industry will be realized soon.

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Tags : Shanghai auto