Chinese automaker Sokon Industry Group Co. will pay $110 million (752 million yuan) to buy the assembly plant of U.S. military vehicle maker AM General to produce electric vehicles in Indiana.
Under the agreement signed last week, Sokon’s Silicon Valley-based subsidiary — SF Motors — will build EVs after retooling the factory.
Sokon will invest $30 million for retooling, and it will retain the plant’s 430 employees, according to AM General.
Read more here at Automotive News China
