Aug 22 (Reuters) - Chinese state-owned automaker Dongfeng Motor Corp said on Friday it would take its Hong Kong-listed unit, Dongfeng Motor Group, private in a deal valued at HK$55.13 billion ($7.06 billion), while separately listing its electric vehicle arm.

Dongfeng will pay HK$6.68 per share, representing an 11.9% premium to Dongfeng Motor Group's last close on August 8 before trading on the stock was halted.

The state-owned parent currently holds 13.16% of the listed entity, according to LSEG data, and has applied to the Hong Kong exchange for the stock’s resumption.

Dongfeng Group shares soared 62% in Hong Kong on Monday.

The move to privatise comes as China's automakers are locked in a bruising, years-long price war that has raised costs and squeezed margins. Regulators in Beijing have recently stepped up scrutiny of the intense competition.

Dongfeng said listing its electric vehicle arm, Voyah, in Hong Kong would "generate significant global exposure," boosting the EV unit's international profile. The group owns nearly 80% of Voyah.

The restructuring underscores Beijing's push for its state-owned carmakers - historically reliant on foreign joint ventures for sales and profits - to become more self-reliant in technology and innovation, particularly in the fast-growing new-energy vehicle market.

Earlier this month, Dongfeng put up for sale its 50% stake in Dongfeng Honda Engine Co., further reshaping its portfolio.

Shares in Dongfeng Motor had surged more than 80% in February after the firm said its parent was planning a restructuring, fuelling speculation of consolidation among China’s state-owned automakers.

($1 = 7.8132 Hong Kong dollars)