JAC and Volkswagen’s New Energy Vehicle Project Started The first Car Is Expected to be Listed in January 2018

On June 29 , JAC and Volkswagen held the General Assembly in Hefei, the new energy vehicle project and the province's 593 structural shortcomings adjustment projects started on30rd intensively.

The total investment of the key projects is about 434.22 billion Yuan, manufacturing projects accounting for about 60% .

The first car is expected to be listed in January 2018.

On June 1, 2017, Anhui Jianghuai Automobile Group Co., Ltd. (hereinafter referred to as "JAC") and Volkswagen (China) Investment Co., Ltd. (hereinafter referred to as "Volkswagen ") signed " Joint venture contract " in Berlin to set up a new JAC Volkswagen Automobile Co., Ltd. After a lapse of less than a month, the new energy vehicle project officially started in June 29, 2017, the first joint venture product will be a pure electric SUV, the first car is expected to be listed in January next year.

It is understood that the new joint venture company's total investment is about 5.06 billion Yuan, the first phase of the joint venture period is 25 years. The new company will develop and manufacture new energy vehicles and provide mobile travel services.

According to the previous cooperation announcement, JAC and Volkswagen will make full use of the resources of both sides and continuously improve research and development capabilities to establish new brand and trademark, innovate technology cooperation and business model and expand domestic and international markets.

The province's key projects also start

While the new energy vehicle project started, the 593 projects to adjust the structure shortcomings of Anhui Province also started, of which 87 key projects in Hefei City.

The proportion of manufacturing projects in these key projects is high, including 346 manufacturing projects like strategic emerging industries and traditional upgrading industries, accounting for nearly 60%. In addition, the annual investment plan in key projects is great, investment in this year is over 100 billion Yuan, and the average annual investment of each project is nearly 200 million Yuan.