Volkswagen In Talks To Build Electric Cars In China

(@rukhshanmir)

Volkswagen in talks to build electric cars in China

FRANKFURT, (UrduPoint / Pakistan Point News -7th Sept,2016) - German auto giant Volkswagen and China's Anhui Jianghuai automobile are in talks to build electric cars together, the firms announced Wednesday, the latest possible tie-up in a burgeoning Chinese market for clean-energy vehicles.

Volkswagen said the two carmakers had signed a memorandum of understanding at its Wolfsburg headquarters to explore the possibility of a joint venture focussed on the research and development, manufacturing and sales of "new energy vehicles".

In its own statement, Anhui Jianghuai Automobile (JAC) said it expected to sign an official agreement with Volkswagen within five months. JAC chairman An Jin said the firm was looking forward to "a full-scale cooperation" with Volkswagen "to provide Chinese consumers with highly cost-effective battery electric vehicle products".

There were no immediate details about the scope of the planned agreement.