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China Approves EV Venture by VW, JAC Motor
Chinese regulators have approved a plan by Volkswagen AG and Anhui Jianghuai Automobile Group (JAC Motor) to make electric and plug-in hybrid vehicles for the local market.
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Chinese regulators have approved a plan by Volkswagen AG and Anhui Jianghuai Automobile Group (JAC Motor) to make electric and plug-in hybrid vehicles for the local market.
The companies announced plans for a 5.1 billion-yuan ($740 million) joint venture last September. They hope to begin next year to make as many as 100,000 electrified vehicles annually.
The companies confirm the plan has been accepted by the National Development and Reform Commission. But VW says some administrative matters must be resolved before the joint venture is finalized. JAC is China’s ninth-largest carmaker and one of the few large producers with no foreign partner.
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