Japanese trading company Itochu Corp will reportedly invest less than 1 billion yen (US$9.05 million) in Chinese new energy vehicle (NEV) start-up Singulato Motors, according to media report citing insiders. Singulato Motors and Itochu Corp did not immediately respond to China Money Network’s emails seeking for comments. The report said although Itochu‘s stake will be small, the deal could create opportunities for Singulato, including cooperation with Japanese automakers that are scrambling to meet Chinese production quotas for battery electric cars. …

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