Thursday, 8 September 2016

VW enters electric vehicle deal with JAC

Volkswagen AG and Anhui Jianghuai Automobile Co., Ltd. have signed a Memorandum of Understanding (MoU) to secure long-term cooperation in the joint development of all-electric vehicles in China.

“As we aim to be at the forefront of e-mobility, Volkswagen Group is looking forward to explore all options to set up a close and mutually beneficial partnership with JAC,” said Matthias Müller, chairman of the Board of Management of Volkswagen AG.
The two companies intend to evaluate the perspectives and feasibility of a new joint venture company, focusing on new energy vehicles (NEV), to carry out full scope cooperation in areas including research and development, manufacture, sales and mobility services in the field of NEV and parts in order to improve fuel efficiency. The top priority will be to develop zero-emission mobility solutions.
Commenting on the agreement, Mr. An Jin, chairman of the Anhui Jianghuai Automobile Co., Ltd, said, “We look forward to providing Chinese consumers with highly cost-effective battery-powered electric vehicle (BEV) products that promote the development of the Chinese new energy vehicle sector as well as the Chinese auto industry’s transformation and upgrading.”
Anhui Jianghuai Automobile Co., Ltd (JAC) is an automobile company with R&D, production, sales and service and other businesses related to the production and sale of commercial and passenger vehicles, including powertrains. It has two vehicle brands, “Jianghuai” and “Ankai”.
JAC delivered 333,639 vehicles and chassis in the first six months of 2016 (+14.15 per cent), with new energy vehicle sales increased massively compared with last year (+261 per cent), while SUV sales maintained stable growth (+30 per cent).

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