Volkswagen begins joint venture with JAC
Volkswagen Commercial Vehicles (VWCV) and Chinese manufacturer JAC have signed a joint venture to research and develop multi-functional vehicles.
Following a signed agreement to manufacture battery electric vehicles in June, VWCV and JAC have agreed to cooperate fully on multi-functional vehicles, including technology, product quality, R&D and sales; with both internal combustion and alternative fuel models to be developed.
VWCV and JAC each have a 50 per cent stake in the venture and is expected to be set up in Hefei, where JAC is based. The Chinese company produces passenger cars as well as heavy, medium and light duty trucks; and multi-function commercial vehicles – in addition to key components such as chassis, transmissions, engines and axles.
Mr. Joern Hasenfuss, Member of the Board of Management Volkswagen Commercial Vehicles brand, said, “Volkswagen has a multi-functional vehicle heritage going back nearly seven decades. Also in China, Volkswagen Commercial Vehicles has attracted a growing band of loyal customers. But there are more chances. With our partner JAC we want to merge experience and knowhow of both companies for the benefit of the Chinese market. A hallmark of both companies is a commitment to meeting customer needs and advanced technology.”