News Flash丨 Volkswagen Anhui's Register Capital Bolsters to CNY 13.856 billion

With a capital increase, Volkswagen Anhui has seen a major corporate transformation, increasing its registered capital from CNY 7.356 billion to CNY 13.856 billion. Stakeholders JAC Motors and Volkswagen China continue to control 25% and 75% of the shares, respectively.

pcauto · 2024-05-14

According to Tianyancha, Volkswagen Anhui has seen a substantial organizational transformation, accompanied by an increase in its registered capital from CNY 7.356 billion to CNY 13.856 billion. Anhui Jianghuai Automobile Group (JAC Motors) and Volkswagen China still maintain a 75:25 ownership arrangement.

It was revealed earlier in the year that both intended to increase the capital of their joint venture, Volkswagen Anhui, by CNY 6.5 billion. JAC Motors would pay CNY 1.625 billion, while Volkswagen China would contribute CNY 4.875 billion. The successful completion of this cash infusion demonstrates the commitment of both businesses to fortify their partnership in EV research and manufacturing, reinforcing Volkswagen Anhui's position as a major participant in the quickly developing Chinese EV industry.

keywords: #Volkswagen Anhui #JAC Motors #Chinese Automotive Market #EV Market Expansion

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