Volkswagen invests € 1 billion in Chinese automaker JAC

Volkswagen invests € 1 billion in Chinese automaker JAC

May 30, 2020 0 By autotimesnews

It became known that the Volkswagen AG concern will invest € 1 billion in the Chinese automobile manufacturer JAC by the end of this year.

 The main objective of the investment is the development of technologies for the assembly of electric cars and related infrastructure in the Middle Kingdom. Note that by 2025, JAC is going to introduce about five new models of electric cars and release about 1.5 million new cars on alternative power sources for the auto market in China.

In addition, electric car assembly plants and technology centers will be improved. So, by 2025, the automaker is going to increase the share to 30% of total sales.