Leverkusen-based specialty chemicals group Covestro will advise Guangzhou Automobile (GAC) on design and materials, the company announced. The announced cooperation is based on a previous collaboration with GAC, in which Covestro produced seatbacks for GAC’s EVs. China is Covestro’s second-largest market with sales of €2.25 billion last year, accounting for about 21 percent of total sales. Covestro’s cumulative investment in China was more than €3.6 billion at the end of 2019. Covestro was formed in 2015 from the spin-off of the Bayer MaterialScience business unit from Bayer AG. niw
Continue reading now
Get 30 days of free access to the Decision Brief to read these and more quality news every day.
Are you already a guest at the China.Table? Log in now