Midea Group acquires e-bike drive system manufacturer Motinova
FOSHAN, China – The home appliance giant Midea Group took over the e-bike drive system manufacturer Motinova. Midea Group, a well-known Fortune 500 company founded in 1968. Recently Midea announced a 11 billion yuan (€1.56 billion) investment schema to establish a new business for the production of parts for new energy vehicles. The take-over of Motinova is part of that strategy.
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