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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.
Guoxuan High-tech signed a strategic cooperation agreement with Dayun Auto on February 5, 2018. Dayun Auto will purchase approximately 6,000 sets of battery packs for pure electric logistics vehicles, valued at about RMB 750 million.