German automaker Volkswagen AG's joint venture with China's Anhui Jian...
BEIJING - German automaker Volkswagen AG’s joint venture with China’s Anhui Jianghuai Automobile Co plans to invest 5.06 billion yuan in a new electric car factory in eastern Hefei city, according to local authorities.
Volkswagen Group China on Thursday confirmed the numbers that had been included in previous official documents and said JAC-Volkswagen would launch its first model soon. VW’s joint venture with JAC, approved in 2017, said last year it would launch a research and development center. It also planned to introduce the SEAT brand to China by 2020-2021.
The China Association of Automobile Manufacturers has said new energy vehicle sales could hit 1.6 million units this year.
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