By Jon LeSage Volkswagen and Jianghuai Automobile Group (JAC Motors) were granted approval Monday to jointly build plug-in vehicles in China.
The joint venture’s approval is to locally manufacture 100,000 battery electric vehicles and it has a market valuation of 5.1 billion yuan ($740 million), according to a JAC Motors stock exchange filing.
The regulatory filing started in September with the ninth largest Chinese automaker. JAC Motors has established a solid presence in China’s new energy vehicle market through its iEV all-electric models. The automaker has added an extended range option to its iEV lineup.
A VW spokesman said that a few administrative procedures still need
Read Full Article Here
For more great articles: HybridCars.com