Volkswagen will invest 2 billion euros in two Chinese companies in the electric car sector.
The German group will take over 50% of JAG, controlled by the state-owned JAC Motors, and will increase the weight of the JAC Volkswagen jv from 50% to 75% for about 1 billion. In addition, according to a note, the company will take over 26% of Gotion High-Tech, battery manufacturer, for 1.1 billion. China is worth 40% of Volkswagen's global sales and is the main four-wheeler market on the planet, with leadership also in the electric sector.
Volkswagen invests 2 billion in the electric car in China
2020-05-29T10:48:59.460Z
Between shares in two companies and in one battery manufacturer (ANSA)Volkswagen will invest 2 billion euros in two Chinese companies in the electric car sector. The German group will take over 50% of JAG, controlled by the state-owned JAC Motors, and will increase the weight of the JAC Volkswagen jv from 50% to 75% for about 1 billion. In addition, according to a note, the company will take over 26% of Gotion High-Tech, battery manufacturer, for 1.1 billion. C...