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Smith, Wanxiang Reach $100 Million China Electric-Vehicle Deal

Wanxiang Group, China’s biggest auto-parts maker, said it will invest $25 million in Smith Electric Vehicles Corp. and $75 million in a joint venture.

The joint venture with Hangzhou-based Wanxiang would develop, manufacture and commercialize all-electric school buses and commercial vehicles for multiple industries in China, Kansas City, Missouri-based Smith Electric said today in a statement.

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