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China Approves EV Venture by VW and JAC Motor
Regulators in China have approved a plan by Volkswagen AG and Anhui Janghuai Automobile Co. (JAC Motors) to make electric cars, according to the two carmakers.
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Regulators in China have approved a plan by Volkswagen AG and Anhui Janghuai Automobile Co. (JAC Motors) to make electric cars, according to the two carmakers.
The companies have been cleared by the National Development and Reform Commission to make as many as 100,000 all-electric vehicles per year. Reuters says a JAC regulatory filing puts the price of the venture's initiative at 5.1 billion yuan ($741 million).
VW and JAC intend to begin EV production in 2018. VW earlier said it hopes to sell 400,000 “new-energy” vehicles, which includes hybrids, in China by 2020.
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