Volkswagen Teams With China’s JAC To Build 100,000 EVs Annually
China’s top state planner has approved a joint venture proposition placed by Volkswagen and JAC Motor (Anhui Jianghuai Automobile Group) some eight months ago.
The two automakers intend to invest roughly 5.1 billion yuan ($740 million), and sell 100,000 all-electric vehicles annually in the country.
The next step is the completion of the required administrative procedures (always a fun time in China), and then the project will take off.
Volkswagen is currently China’s largest foreign automaker, and overall would like to sell 400,000 New Energy Vehicles (all-electric and plug-in hybrid) annually in the future.
Other Volkswagen JVs have been established with SAIC Motor and China FAW Group.