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Volkswagen To Raise Stake In Its Chinese JV For E-mobility - Quick Facts

Volkswagen (VLKAF.PK,VOW.BE) has agreed to increase its stake from 50% to 75% within the JAC Volkswagen joint venture in China through a capital increase. The deal also includes the acquisition of 50 percent of JAG, the Anhui government-owned entity which is the parent company of JAC. The total investment is valued around 1 billion euros.

The JAC Volkswagen joint venture is an all-electric company which develops, produces and sells NEVs. A portfolio expansion of up to 5 additional BEV models by 2025 is planned.

Also, Volkswagen (China) Investment Co. Ltd. will become the largest shareholder in battery manufacturer Gotion High-Tech Co., Ltd., with 26 percent of the shares, through a buy-in of around 1.1 billion euros. Gotion is in the process of becoming a certified Volkswagen Group battery supplier in China.

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