New energy vehicles are seen charging at a service area along the Guangzhou-Shenzhen expressway in south China's Guangdong Province, Oct. 27, 2022. (Xinhua/Li Jiale)
The Paslin Company (Paslin), a wholly-owned subsidiary of Chinese company Paslin Digital Technology Co., Ltd. (600215.SH), has inked a contract of intent with Magna, a renowned auto parts supplier headquartered in Ontario, Canada, reported Shanghai Securities News Monday quoting the parent company.
Magna will purchase industrial automated production lines for electric vehicle manufacturing from Paslin with the amount not exceeding 467.3452 million yuan.
Magna has already signed the first-phase purchase deal with Paslin in December 2022 with the amount valuing about 419.7897 million yuan.