China Evergrande buys out Swedish new-energy car tech specialist

A promotional footage on a property development of China Evergrande Group is shown at a news conference in Hong Kong. Photo: Reuters

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Real estate giant China Evergrande Group is purchasing the remaining 17.6% that it doesn’t already own of a Swedish new-energy car technology specialist for $380 million, as its drive to diversify beyond its core business accelerates.

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