Volkswagen: invests 2 bln in the electric car in China – Ultima Ora

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(ANSA) – BEIJING, MAY 29 – Volkswagen will invest 2 billion
euros in two Chinese companies in the electric car sector.

The German group will take over 50% of JAG, controlled by the
state JAC Motors, and will increase the weight of the JAC Volkswagen jv
from 50% to 75% for about 1 billion. In addition, it reads in
a note, the company will take over 26% of Gotion High-Tech,
battery manufacturer, for 1.1 billion. China is worth 40%
of global sales of Volkswagen and is the main market
of the four wheels of the planet, with leadership also
in electric. (HANDLE).

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