China FAW in talks to buy 10 percent stake in Leapmotor, report says

China FAW Group is in talks to acquire a 10 percent stake in Leapmotor (9863), according to Cailian Press. 

The Chinese state-owned automaker will become a strategic shareholder of electric vehicle maker Leapmotor following the deal, the Chinese media outlet reported, citing people familiar with the matter.

The proposal is already under internal review by FAW, and the two parties also discussed cooperation in building new vehicle models, it added.