Chinese automobile company GAC Group announced on Tuesday night that it has signed an agreement with Japan's Denso Corp to cooperate on a wide range of areas in the car industry.
Under the agreement, GAC and Denso would "fully cooperate" in areas such as traditional car parts, parts for new-energy vehicles (NEVs) and intelligent driving, according to a statement from GAC to the Shanghai Stock Exchange.
GAC has been investing heavily in NEVs and intelligent cars, and it said earlier this month that it would set up an independent unit to focus on those two segments.
