29 May '17, 4am

VW Gets Greenlight In China For Building EVs With JAC Motors

VW Gets Greenlight In China For Building EVs With JAC Motors

Volkswagen and Jianghuai Automobile Group (JAC Motors) were granted approval Monday to jointly build plug-in vehicles in China. The joint venture’s approval is to locally manufacture 100,000 battery electric vehicles and it has a market valuation of 5.1 billion yuan ($740 million), according to a JAC Motors stock exchange filing. The regulatory filing started in September with the ninth largest Chinese automaker. JAC Motors has established a solid presence in China’s new energy vehicle market through its iEV all-electric models. The automaker has added an extended range option to its iEV lineup. A VW spokesman said that a few administrative procedures still need to be fulfilled before the JV agreement will be finalized. The JV deal would facilitate the German automaker’s mission to move forward as the top selling global manufacturer of plug-in electrified vehicles, with th...

Full article: http://www.hybridcars.com/vw-gets-greenlight-in-china-for...

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