The Chinese government is investing in the construction of a huge industrial park called Neo Park in Hefei. An industrial cluster for intelligent electric vehicles will be created there, where hundreds of EV-related companies will be located.
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Volkswagen has started construction of a new MEB plant at Volkswagen Anhui in China. Following the completion of the Anting (SAIC VW) and Foshan (FAW-VW) plants, this will be the group’s third production facility for pure electric vehicles in China.
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Volkswagen has now taken over the majority stake of the joint venture with JAC with 75 per cent, which also means management control. The company was immediately renamed from JAC Volkswagen to Volkswagen (Anhui) Automotive Company Limited since an eMobility hub is to be established in Anhui Province.
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Nio is moving on from crisis as the EV start-up secures fresh capital from banks in China. The company had signed credit lines with six domestic banks for a total of 10.4 billion yuan (around 1.3 billion euros) just days ago.
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Volkswagen has officially confirmed its plan to increase its stake in JAC Volkswagen, its joint venture for electric mobility, and to invest around one billion euros in this. The Wolfsburg-based company will invest another billion in a Chinese battery specialist.
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Volkswagen has readied the ground for a research and development centre with its Chinese joint venture partner JAC, in Hefei, Anhui Province. The centre will focus on electrification, connectivity and autonomous driving.
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China has selected 17 cities and regions to launch a pilot program for battery recycling for old EVs. The program will be launched in the major cities Beijing, Shanghai and Xiamen, as well as the provinces of Juangsu, Anhui and Guangdong.
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