AWARENESS - ASSOCIATED WITH PEOPLE
10/06/2020695
On June 1, 2017, JAC Group and Volkswagen Group officially signed a cooperation agreement in Berlin, Germany, with the presence of German Chancellor Angela Merkel and Chinese Prime Minister Li Keqiang. Under the agreement, representing new milestones in China-Germany cooperation, the two sides will set up a 50:50 joint venture to develop, manufacture and sell new energy-efficient automotive products and mobile services.
In establishing the joint venture, JAC and Volkswagen aim to promote the development of the new energy vehicle (NEV) industry, maintain mobility, and facilitate the transformation and upgrading of the industry. China's Automotive industry, building their relationship in the joint China-Germany cooperation in the industry.
The joint venture, with an initial period of 25 years, will make full use of the technical and commercial favorable conditions of the two sides in a full cooperation that will include electric vehicles for the vast market. The agreement also covers the development and production of NEV components, connectivity and big data services, as well as used vehicle platform services and includes all operations. related business.
Once established, the new company and management will begin preparing details to build a new NEV plant and a research and development center. This plan will include site location and production volumes.
Professor Jochem Heizmann, member of the Board of Directors of Volkswagen Aktiengesellschaft as well as Chairman and CEO of Volkswagen Group, said: “We are proud to have a strong partner like JAC Group. “Volkswagen also appreciates the support of the Chinese government in forming this partnership, which I believe will contribute much to the country's future rise. This joint venture is a step. significant progress in the deployment of a series of new energy vehicles to the Chinese market under the heading TOGETHER - Strategy 2025. ”
Mr. An Jin, JAC President, said: “JAC is very confident about the prospect of this joint venture with one of the leading automobile companies in the world. With the strong leadership of the Government, China is at the forefront of developing and using electric vehicles and we appreciate the strong government support for our joint venture. We look forward to working with Volkswagen to benefit more Chinese people. ”
As part of the "TOGETHER 2025 Strategy", Volkswagen is stepping up its efforts towards sustainable development. The Group will launch a broad initiative on electric vehicles and will prepare to supply 400,000 new energy-powered vehicles by 2020 in the Chinese market, increasing to 1.5 million NEV vehicles by year. 2025.
Based on the "Made in China 2025" strategy, the long-term development plan for the automotive industry and the medium and long-term demand for energy conservation and emission reduction, JAC will actively pursue the development of NEV, an emerging industry of strategic importance. JAC clearly endorses NEVs as its core business strategy and expects NEV's revenue will account for more than 20% of total revenue by 2020, reaching more than 30% by 2025.