JAC Motors and Volkswagen China plan to increase investment in Volkswagen Anhui by RMB 6.5 billion in the same proportion

On March 12, JAC Motors announced that it will jointly invest RMB 6.5 billion in Volkswagen Anhui, a joint venture between the two parties, with Volkswagen China. The capital increase will be made in cash. The capital increase period is limited to 2024 to 2025, and both parties will pay in batches. After the completion of this capital increase, the shareholding ratio of JAC Motors and Volkswagen China will remain unchanged.