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General Motors has inked a Letter of Intent (LoI) with the government of Shanghai’s Pudong New Area for the automaker’s intended investment of $100 million to set up the GM Premium Import business in the country.

AITO, the premium new energy vehicle brand jointly developed by SERES and HUAWEI, saw its June sales record reach a new high.

On July 4, Hubei Xingji Shidai Technology Co., Ltd., a Geely-backed mobile device company, signed an agreement for the strategic investment in the smartphone maker Zhuhai Meizu Technology Co., Ltd.