A memorandum of understanding has been signed between Volkswagen Group and Anhui Jianghuai Automobile Company (JAC) concerning a new long-term electric vehicle development partnership, according to a press release from the automakers.
The partnership will reportedly be focused on the development of electric vehicles (EVs) for sale in the Chinese market. It will encompass collaboration in areas relating to: research and development, manufacturing, and sales and mobility services. The memorandum of understanding will see the two firms enter into discussions to evaluate the feasibility of the proposed, new joint venture company.
“As we aim to be at the forefront of e-mobility, Volkswagen Group is looking forward to explore all options to set up a close and mutually beneficial partnership with JAC. We believe this cooperation would not only benefit our two organizations, but would also be of great value to our customers, a sound environment and the Chinese society in general,” stated Matthias Müller, Chairman of the Board of Management of Volkswagen AG.
The Chairman of the Anhui Jianghuai Automobile Company, Mr. An Jin, commented as well: “We look forward to a full scope cooperation together with Volkswagen Group, focus on new energy vehicles, to provide Chinese consumers with highly cost-effective battery-powered electric vehicle (BEV) products that promote the development of the Chinese new energy vehicle sector as well as the Chinese auto industry’s transformation and upgrading. The intended cooperation between JAC and Volkswagen Group can be called a ‘Creating Together’ model, which embodies mutual benefit and a win-win situation. We hope to develop this cooperation into a brand new business model during the process of Chinese auto industry’s opening up.”