In November 27th, Anhui Jianghuai Automobile Group Limited by Share Ltd (hereinafter referred to as Jianghuai Automobile) signed a memorandum of understanding with Volkswagen Group, Volkswagen Group (China) three parties, and decided to explore the potential joint venture mode. Reporters learned that the new joint venture plan is located in Hefei, and will jointly develop and sell multi-purpose vehicles (including but not limited to pickup, MPV, electric commercial vehicles).
It is understood that in the new joint venture, the mass automobile light commercial vehicle (LCV) will play an important role on the representative of Volkswagen Automobile Group. The new joint venture
will actively develop all-round cooperation in the development of advanced technology for multi-purpose vehicles, the research and development of high quality products and the effective marketing of the market. And through research and development to promote the development of multi-purpose vehicle design and technology, covering internal combustion engines and new energy vehicles. The joint venture will be jointly owned by three parties. Among them, Jianghuai Automobile holds 50% shares and Volkswagen Group and Volkswagen Group (China) share a share of 50%.
Mr. Anjin, chairman of Anhui Jianghuai Automobile Group , said: “We are very pleased to be able to further expand our areas of cooperation with Volkswagen. Jianghuai automobile has abundant product sequence, technical reserve and market basis in multi-purpose vehicle field. The two companies have obvious advantages in this field and the potential for mutually beneficial cooperation is huge. Together, we will vigorously promote the development of multi-purpose vehicle market and bring more exciting products and choices to global consumers.
Professor Haizmann, President and CEO of Volkswagen Group (China), the management board of Volkswagen group, said: "we are pleased to have the opportunity to further deepen our cooperation with JAC and realize the advantages of complementary advantages, common development and win-win cooperation in the multi-purpose vehicle sector. As a well-known car market in China, JAC has a strong presence in the field 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.
The new cooperation is another milestone in deepening cooperation after the formal signing of the joint venture agreement between JAC and Volkswagen Group in the field of new energy vehicles in June of this year.