New Mobility Weekly New Mobility Live

Volkswagen intensifies e-mobility activities in China

Volkswagen has initiated the next chapter for its business in China. Volkswagen plans to increase its share in JAC Volkswagen, its joint venture for e-mobility.

Around €1 billion ($1.11 billion) is to be invested. This amount includes the acquisition of 50% of JAG, the parent company of the Volkswagen partner JAC, and an increase in the stake in JAC Volkswagen from 50 to 75%. By gaining management control, Volkswagen is paving the way for more electric models and infrastructure. Furthermore, Volkswagen will acquire a 26% stake in battery manufacturer Gotion High-Tech Co., Ltd. for around €1 billion ($1.11 billion), becoming the company’s largest shareholder.

© 2017-2018 New Mobility. All rights reserved. | Privacy Policy