Electric motor parts maker GM sold a $3 billion deal to China’s Jia Yueting last year to sell the company’s first electric motors.
The deal will let the Chinese company produce at least 100,000 of its next generation electric engines, which will be the fastest-growing segment of GM’s business.
The automaker said the new engines will be more efficient than current-generation engines and offer higher fuel efficiency.
The company also announced plans to sell at least two other models with the new electric engine technology.
A $4.5 billion deal between Airbus and the Chinese government in 2015 called for the Airbus group to buy a smaller stake in a Chinese auto maker that made parts for electric vehicles.
The Chinese automaker had been trying to acquire a U.S. manufacturer of electric parts since the late 1990s, but the deal never went through.
Airbus also said last year it would sell its electric-vehicle unit to a Chinese firm.
The deal between General Motors and the European Union was finalized in 2017, but GM has not yet made a decision on whether to sell parts to the European government.
GM is also exploring options with suppliers for electric car parts.
In 2017, the government of China banned the import of electric motors, making it harder for automakers to build and sell electric cars in the country.
In 2017, Chinese authorities approved a $50 billion deal with General Motors to sell its new electric vehicle to customers in China.