Kathmandu. Chinese automobile manufacturer Dongfeng Motor Group has announced a major investment in its electric vehicle brand Voya Automobiles.

According to the capital enhancement agreement signed between Dongfeng and Voya, the company will invest about $ 137 million in Dongfeng Asset Management, a subsidiary of Dongfeng.

After the capital enhancement agreement, the ownership structure of Voya Automobiles will be changed. After the investment, Dongfeng Motor Group will acquire 79.69 percent ownership of Voya. Dongfeng will hold 3.30 percent stake. The remaining 17.01 per cent will be held by other shareholders. In this way, Dongfeng will continue to carry out development work together with trusted partners while maintaining control over Voya.

Voya is the premium electric vehicle brand of Dongfeng Motor Group. Entering the market with smart and environment-friendly vehicles, Voya aims to provide modern vehicles for today’s customers.

This new investment will help to strengthen Voya in the market.

The new capital can be used to increase R&D production, improve vehicle quality and expand in the international market. It will also help Voya compete with other big electric vehicle brands.