Volkswagen Group China increases investment in joint venture with JAC Motors, raising registered capital from 7.4B to 13.9B yuan.
Volkswagen Group China plans to increase its investment in its majority-controlled joint venture with Anhui Jianghuai Automobile (JAC Motors), raising the registered capital from 7.4 billion yuan to 13.9 billion yuan. JAC Motors will contribute 1.6 billion yuan, while Volkswagen's China division will contribute 4.9 billion yuan. This move is part of Volkswagen's efforts to regain ground in the Chinese market, where it is exploring local tie-ups and accelerating its shift towards electrification.
March 12, 2024
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