China's XCMG ties up with Tsingshan Group to invest in $843m new energy project

China's XCMG ties up with Tsingshan Group to invest in $843m new energy project

Photo: Reuters

Xuzhou Construction Machinery Group Co Ltd (XCMG) said it has agreed with  Tsingshan Holding Group Co Ltd to invest in a 5.5 billion yuan ($843 million) new energy vehicle (NEV) project in the eastern Chinese city of Xuzhou.