Volkswagen plans to increase its share in JAC Volkswagen, its joint venture for e-mobility. Around €1 billion is to be invested. This amount includes the acquisition of 50% of JAG, the parent company of the Volkswagen partner JAC, and an increase in the stake in JAC Volkswagen from 50 to 75%. By gaining management control, Volkswagen is paving the way for more electric models and infrastructure. Furthermore, Volkswagen will acquire a 26% stake in battery manufacturer Gotion High-Tech Co., Ltd. for around €1 billion, becoming the company’s largest shareholder. Together with strong and reliable partners, Volkswagen is strengthening its electrification strategy in China. The electric cars segment is growing rapidly and offers a great deal of potential for JAC Volkswagen. We are actively driving forward the development of battery cells in China through our strategic investment in Gotion. I am delighted with this strategic milestone in our mutual and […]