Financial Wire

Vala Enters Camping Vehicle Development Agreement With Wuling Motors

-- Vala (HKG:2051) entered into a camping vehicle development agreement with Liuzhou Wuling Motors, according to a Hong Kong bourse filing Thursday.

Shares of the credit card management firm gained nearly 2% in Friday morning trade.

Under the partnership, both sides will work to jointly develop an electric camping vehicle based on the Wuling Sunshine EV model.

Vala will be primarily responsible for designing model customization schemes and developing relevant specialized components, while Wuling Motors will be primarily responsible for vehicle technical verification and manufacturing.

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