Guangzhou Shunwei New Energy Vehicles Co., Ltd. announced that it will raise CNY 20 million in a equity round of funding on April 18, 2018. The transaction will include participation from returning investor Guangdong Sunwill Precising Plastic Co.,Ltd to retain its 100% stake in the company. The transaction was approved by the board of directors of investor company in the seventh meeting of the sixth board of directors and the fifth meeting of the sixth board of supervisors.

The registered capital will increase from CNY 210 million to CNY 230 million, post completion of the transaction.