Light Takes Stake in Chinese Electric Vehicle Maker

Brazilian utility Light has paid BRL120m ($76m) for a 20% stake in CR Zongshen E-Power Fabricadora de Veiculos, or E-Power. E-Power, controlled by a Chinese parent, aims to produce electric motorcycles at a factory to be built in de Janeiro state. Light says the first phase of the project will require investments of BRL 122m, with part of the amount raised through financing. An investor relations official says the specific plan for the financing has not been determined.