Progress of cooperation between JAC Group and Volkswagen

The predecessor of JAC Group was Chaohu Auto Parts Factory, which was established in 1964. In 1968, JAC Group successfully built the first 2.5-ton truck in Anhui Province, opening a new chapter in Anhui's automobile manufacturing industry. In 2016, JAC Group and Volkswagen signed a memorandum of understanding on joint venture cooperation, and JAC Volkswagen Automotive Co., Ltd. was officially established in 2017. In 2020, Volkswagen invested 1 billion euros to acquire 50% of the shares of JAC Volkswagen Automotive Co., Ltd., and at the same time increased its stake in the joint venture to 75% and obtained management rights of the joint venture. At present, Volkswagen Anhui has built the MEB factory in Hefei and put into production the pure electric model Cupra Tavascan for export to the European market.