Volkswagen and Jianghuai were approved to establish a joint venture, with an advance revenue of 50 billion yuan in 2029

A few days ago, Driving Vision learned from an announcement issued by JAC that on November 24, 2020, the company received a notice from Volkswagen China Investment. According to Volkswagen China Investment, on June 6, 2020 The "Investment Agreement on Anhui Jianghuai Automobile Group Holding Co., Ltd." signed with the Anhui Provincial State-owned Assets Supervision and Administration Commission and Jianghuai Automobile Holdings on June 11, 2020, and with Jianghuai Automobile Co., Ltd. and JAC Motors on June 11, 2020 Volkswagen China Investment has submitted anti-monopoly review declarations to the anti-monopoly review authorities of relevant countries with pre-declaration obligations for the transactions under the two investment agreements.

In the first half of this year, the Anhui Provincial State-owned Assets Supervision and Administration Commission, Volkswagen China Investment, and Jianghuai Automobile Holdings signed the "Letter of Intent to Increase Capital in Anhui Jianghuai Automobile Group Holdings Co., Ltd." According to the share agreement, Volkswagen China Investment will become JAC The controlling shareholder of the automobile holds 50% of the equity. At the same time, the Anhui Provincial State-owned Assets Supervision and Administration Commission holds 50% of the equity and controls Jiangxi Automobile Holdings.

JAC and Volkswagen China Investment will increase capital in the joint venture JAC Volkswagen. Among them, JAC Automobile will increase capital in JAC Volkswagen by RMB 1,284,908,578 and hold 25% of the equity in the joint venture; Volkswagen China Investment will increase capital in JAC Volkswagen by RMB 5,216,711,460. Yuan, will hold 75% of the equity of the joint venture company.

At the same time, the Volkswagen Group said that 4-5 of its Volkswagen Group brand products will be manufactured using JAC Volkswagen's electric vehicle platform. It is expected that the new joint venture will target the production of 200,000-250,000 vehicles in 2025. , producing 350,000-400,000 vehicles in 2029, which is expected to bring in revenue of 30 billion yuan in 2025 and 50 billion yuan in 2029.

This article comes from the author of Autohome Chejiahao and does not represent the views and positions of Autohome.