Volkswagen is preparing for corporate investment in China, a key market for electric cars.
According to Reuters, Volkswagen is in talks to buy a 50 percent stake in its Chinese partner in electric car manufacturing, JAC Motors' parent company, Anhui Jianghuai Automobile. Volkswagen is earmarking 7 billion yuan (314 billion forints) to buy the fifty percent package.
In addition, the German automotive group is preparing to buy a significant 27 percent stake in the Guoxuan High-Tech battery company. If the plan materializes, for the first time, a foreign investor would become a major shareholder in a Chinese battery company.
Although Guoxuan is little known abroad, it is one of the largest battery manufacturers in China alongside CATL and BYD. The plan will be presented to the group's supervisory board on Thursday, and the decision is expected to be announced on Friday.
(Source: vezess.hu / photo: pixabay.com)