Anhui Jianghuai Automobile Group (JAC Motors)

The JAC-VW joint venture will establish an EV factory in Hefei, China, and launch five more EV models by 2025.

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.