Anhui Jianghuai Automobile Group Co., Ltd. (hereinafter referred to as Jianghuai Automobile) announced on the evening of November 27 that the company signed a joint venture memorandum of understanding with Volkswagen AG and Volkswagen (China) Investment Co., Ltd. on the same day, plans to jointly develop and sell multi-purpose. Automobiles (including but not limited to pickup trucks, MPVs, electric commercial vehicles, etc.).
According to the announcement, the three parties intend to establish a joint venture company in China, through the new joint venture, will actively carry out all-round cooperation in the development of advanced technology for multi-purpose vehicles, high-quality product research and development and effective market sales, and promote multi-purpose through research and development. Advances in vehicle design and technology, including internal combustion engine models and new energy vehicles.
The three parties jointly agreed that among the joint ventures to be established, the ratio of the total shareholding of Volkswagen and Volkswagen (China) to Jianghuai Automobile is 50:50, and the joint venture company is established in Hefei, Anhui Province, the PRC.
The new cooperation reached this time is another milestone achievement of Jianghuai Automobile and Volkswagen Group to deepen cooperation after signing a joint venture agreement in the field of new energy vehicles in June this year.
Jianghuai Automobile Chairman An Jin said: “Jianghuai Automobile has a rich product sequence, technical reserves and market base in the field of multi-purpose vehicles. The two companies have obvious advantages in this field and the potential for mutually beneficial cooperation is huge. Together, we will promote more The development of the automotive market has brought more exciting products and choices to consumers around the world."
Hezman, member of the management board of Volkswagen Group and president and CEO of Volkswagen Group (China), said: "We are very pleased to have the opportunity to further deepen cooperation with JAC, to achieve complementary advantages, joint development and cooperation in the field of multi-purpose vehicles. As a well-known car company in the Chinese automotive market, JAC has strong capabilities in the production of multi-purpose vehicles that are favored by consumers. At the same time, Volkswagen has a long history and experience in producing multi-purpose vehicles with advanced technology. rich."
In the new joint venture, the Volkswagen Light Commercial Vehicle (LCV) will play an important role on behalf of the Volkswagen Group. As an independent brand of the Volkswagen Group, Volkswagen Commercial Vehicles is responsible for the development, manufacture and sales of light commercial vehicles worldwide. The main products include the Transporter (T series), Caddy, Crafter and Amarok series. In 2016, the brand sold a total of approximately 480,000 light commercial vehicles.
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