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South China Morning Post
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FAW, China's oldest carmaker, eyes 10% of Leapmotor to boost stake in EV surge
FAW Group , mainland China's oldest carmaker, plans to acquire a 10 per cent stake in Stellantis-backed electric vehicle (EV) maker Leapmotor , as the state-owned automotive giant looks to enhance its competitiveness in the segment, according to Cailian, a Shanghai-based financial news outlet. The investment would pave the way for the two companies to jointly develop new EV models, fine-tune supply-chain management and bolster overseas expansion, the report said. Leapmotor declined to comment, while FAW could not be immediately reached for comment on Wednesday. Two sources with knowledge of FAW and Leapmotor's thinking said the companies were putting the final touches on an investment agreement that would benefit both parties by controlling costs and boosting research and development. FAW's Hongqi cars are assembled in Changchun, capital of Jilin province. Photo: Xinhua The deal would make FAW China's first state-owned carmaker to own a stake in an EV start-up.


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South China Morning Post
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‘Still believe in love': China tycoon whose divorce gripped public, remarries ex-classmate
A 61-year-old Chinese business tycoon has remarried a woman the same age as him after a bitter six-year divorce battle. The fresh nuptials, which challenge the stereotype of wealthy older men marrying much younger women, have earned the successful businessman widespread praise online. Li Guoqing, 61, is a Peking University graduate and the co-founder and former CEO of Dangdang, one of China's first and most well-known online book retailers. Founded in 1999 with his former wife, Peggy Yu, Dangdang became a household name in China's e-commerce sector. The two married in 1996 after dating for three months. Li Guoqing is a graduate of Peking University and the co-founder and former CEO of the e-commerce company, Dangdang. Photo: Handout On August 16, Li married his new wife Zhang Danhong in a wedding with the theme 'Still Believe in Love'.