Gasgoo.com (Shanghai November 16th, 2016) On November 15th, An Jin, Board Chairman of JAC Auto, said on the shareholder general meeting that the company’s cooperation with Volkswagen and Nextev is steadily progressing.
It’s the first tie that An Jin publicly talks about the joint-venture issue since JAC signed joint-venture cooperation memorandum with Volkswagen in September. According to the announcement, JAC and Volkswagen plan to establish a joint-venture company based on alternative energy vehicle products, in which two sides hold 50% shares respectively. The two sides will try to bargain on and sign official agreement in the five months after signing the memorandum.
On November 14th, SAIC Group announced that SAIC Volkswagen is discussing the probabilities of providing alternative energy vehicles to consumers. An Jin said that SAIC Volkswagen and JAC Volkswagen will meet no conflict in alternative energy vehicles. JAC and Volkswagen will co-produce competitive products on the mature platforms. According to introduction, JAC’s 2016 fund-raising project is progressing smoothly, which lays a good foundation for the cooperation with Volkswagen.
An Jin said that the cooperation will lift the company’s technologies and brand premium. He also said that JAC is searching a way of international merger and acquisition.
On the other hand, JAC’s cooperation with Nextev also attracts great attention. Announcement shows that the overall investment would be about RMB 10b. It’s predicted that the first BEV model, co-produced by Nextev and JAC, will be launched at the end of 2017. An Jin said that JAC will speed up its transition to energy-saving vehicles and alternative energy vehicles in the future.
