Lingpao Motors responds to First Automobile Works acquiring its shares: Reports are not true.

On November 4th, in response to the news that FAW Group would acquire Lixiang Auto, the official statement from Lixiang Auto to Interface News said that the news was not true. Earlier, there were reports that FAW Group would gradually acquire Lixiang Auto's equity through a targeted issuance, eventually becoming its largest shareholder. This plan has been approved by relevant departments and is scheduled to be officially announced to the public on November 17th.