Miyoshi signs MOU on JV with China light electric car firm

Singapore

PRECISION engineering firm Miyoshi has signed a memorandum of understanding (MOU) on a joint venture (JV) with Fujian-based light electric car firm Core Power Group.

Subject to various conditions, including executing a definitive agreement, due diligence and various approvals by shareholders and regulatory authorities, Miyoshi will acquire a stake of up to 49 per cent in Core Power (Fujian) New Energy Automobile Co.