Volkswagen AG and Anhui Jianghuai Automobile Co., Ltd. (JAC) recently signed a Memorandum of Understanding (MoU) in Wolfsburg in Germany to define the next phase of negotiations between the two companies in order to achieve long-term cooperation in the joint development of all-electric vehicles in China.
According to the MoU the parties intend to enter into discussions to evaluate the perspectives and feasibility of a new joint venture company ("JV"), focusing on new energy vehicles (NEV), to carry out full scope cooperation in areas including research and development, manufacture, sales and mobility services in the field of NEV and parts in order to improve fuel efficiency. The top priority will be to develop zero-emission mobility solutions.
As part of its comprehensive new Group Strategy "Together – Strategy 2025" Volkswagen is also intensifying efforts for sustainable mobility worldwide. The Group will be launching a broad-based initiative for electro-mobility and intends to develop more than 30 new, purely battery-powered electric vehicles (BEVs) over the next ten years.
Anhui Jianghuai Automobile Co., Ltd (JAC) is a comprehensive automobile company encompassing R&D, production, sales and service and other businesses related to the production and sale of commercial and passenger vehicles, including powertrains. It has two vehicle brands, "Jianghuai" and "Ankai".
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