A joint venture between German automaker Volkswagen AG and Chinese carmaker Anhui Jianghuai Automobile Co (JAC) plans to invest 5,06 billion yuan ($750,8 million) to build a new electric vehicle plant in eastern Hefei.
This was reported in an online publication dedicated to the Hefei Economic and Technological Development Area. According to the published document, Volkswagen and JAC have received permission from environmental authorities to build a plant with an annual output of up to 100 electric vehicles.
A spokesman for the joint venture confirmed plans to build the plant, noting that the venture's first electric vehicle, called the SOL E20X, will be released this year.
Source: 3dnews.ru