China's GAC Group shares suspended after report on FAW's potential equity investment

TOYOTA MOTOR

14/09/2026 05:30

BEIJING, Sept 14 (Reuters) - Shares of China's Guangzhou Automobile Group (GAC) 601238.SS were suspended from trading on Monday after a media report said another local automaker, FAW Group, is pursuing a plan to acquire a stake in GAC. 
Financial media outlet Caixin reported on Sunday that the state-owned FAW might obtain shares in GAC Group through asset allocation, potentially establishing a joint venture between the two automotive companies, citing two sources familiar with the matter.
FAW Group owns the "Hongqi" brand and commercial vehicle maker FAW Jiefang Group 000800.SZ.
Both FAW and GAC are key joint-venture partners of Japan's Toyota Motor Corp 7203.T in China, operating FAW Toyota and GAC Toyota, respectively.
The size of FAW's potential stake in GAC and specific method of the acquisition have yet to be determined, Caixin reported.    

 (Reporting by Zhang Yan, Ju-min Park; Editing by Sonali Paul)
 ((ju-min.park@thomsonreuters.com; Reuters Messaging: ju-min.park.thomsonreuters.com@reuters.net))