◂ Announcements

May 29, 2020INVESTMENTHefei, Anhui, China

Volkswagen invests €2 billion in China for electrification

Volkswagen plans to invest around €1 billion to increase its stake in JAC Volkswagen from 50% to 75% and acquire 50% of JAG, and separately invest €1.1 billion to acquire a 26% stake in battery manufacturer Gotion High-Tech.

Value

$2.20B (2.00B EUR)

Status

Announced

Productselectric vehiclesbatteries

CompaniesVolkswagen Guoxuan High-tech target JAC Volkswagen target JAG target Gotion High-Tech target Anhui Jianghuai Automobile Group (JAC Motors) target

Sectors#Automotive Components

“Volkswagen has announced some big moves in China as part of its electrification strategy in the world’s largest auto market.”paultan.org

2 sources
paultan.orgVolkswagen invests two billion euros in China – new acquisitions are part of its electrification strategyMay 29, 2020
carscoops.comVW Wants Full Control Of JAC Motors EV Joint Venture In China | CarscoopsSergiu TudoseMay 29, 2020

Summarized from public sources; check the original articles before acting on it.

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