Beijing: E-cars in China, VW is investing more than a billion euros

to enable this, will Volkswagen take over half of the Chinese JAG group, the parent company of JAC. Around one billion euros would be invested in this context.

Beijing: E-cars in China, VW is investing more than a billion euros

to enable this, will Volkswagen take over half of the Chinese JAG group, the parent company of JAC. Around one billion euros would be invested in this context. In addition, Volkswagen announced plans to 1.1 billion euros, 26 percent of the stake in the Chinese battery company Gotion High-Tech take on, and the largest individual shareholder up. The business is scheduled to be completed by the end of the year.

The partnership will enable Volkswagen, more Know-to gain expertise in the field of batteries. "Together with strong and reliable partners, Volkswagen is strengthening its electrification strategy in China," said VW chief Herbert Diess, according to the memo. The Segment of electric cars in China is growing rapidly.

China is by far the largest single market for the VW group. Batteries are in the ramp-up of electric mobility as a scarce resource, the car manufacturers try to ensure, therefore, different Due to sufficient capacity. The people's Republic is considered to be the leading market for electric cars, because the Chinese government to combat the poor air quality in major cities of the country and with the theme technology leader wants to be.

dpa
Updated Date: 29 May 2020, 03:26

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