AutoBeta(AutoBeta.net)12/02 Report--

Today, with regard to Jianghuai Automobile, it is announced that the capital increase of Volkswagen China Investment to JAC Holdings and Volkswagen China Investment, and the capital increase of Jianghuai Automobile to Jianghuai Volkswagen have been changed, among which, Jianghuai Volkswagen Automobile Co., Ltd. changed its name to Volkswagen (Anhui) Co., Ltd.

According to the announcement, Volkswagen China Investment and Jianghuai Motor have contributed in accordance with the agreement on December 2, 2020. Among them, Volkswagen China Investment increased RMB 2.383 billion yuan in Jiangqi Holdings, Volkswagen China Investment increased RMB 1.609 billion yuan in the first phase of Volkswagen (Anhui) Co., Ltd., and Jianghuai Automobile increased RMB 82.525 million yuan in the first phase of Volkswagen (Anhui) Co., Ltd., two transactions have been completed.

It means that Jiangqi Holdings was previously held by Anhui SASAC 50%, Volkswagen China Investment 50%, Volkswagen (Anhui) Co., Ltd. by Volkswagen China Investment 75%, Jianghuai Automobile 25%.

A few days ago, it was reported that Jianghuai Automobile would change its name to JAC-Volkswagen. However, in response to this matter, Jianghuai Automobile officials have refuted the rumor that the news is not true.

It is reported that there are three specific conditions for Jianghuai Automobile to change its name: first, "Anhui Jianghuai Automobile Group Co., Ltd." will change its name to "Jianghuai Volkswagen Co., Ltd."; secondly, "Jianghuai Volkswagen Co., Ltd." will change its name to "Volkswagen (Anhui) holding Co., Ltd.". Finally, the name of the listed company "600418 Jianghuai Automobile" will be changed to "600418 Jianghuai Automobile Volkswagen". And the announcement also confirmed that the situation is true.

In order to promote the product layout of Jianghuai Volkswagen, Jianghuai Motors also signed the Product portfolio Framework Agreement with Volkswagen China, which stipulates that Volkswagen becomes a 75% shareholder in the joint venture company. 4-5 Volkswagen Group brand products will be awarded to the joint venture company, and the planned products will be based on its pure electric platform.

At the same time, the portfolio Framework Agreement also involves a production plan with an annual production capacity of 350000 vehicles, which is expected to produce 20-250000 vehicles in 2025 and 35-400000 vehicles in 2029, with total revenue expected to reach 30 billion yuan in 2025 and 50 billion yuan in 2029.

Reuters also reported last week that Volkswagen plans to advance the development of electric cars with lower barriers to the mass market, although Volkswagen did not disclose details such as the appearance of the new car, nor did it disclose when it will be launched or where it will be produced.

However, according to sources, future models with lower barriers for Volkswagen are expected to sell for between 20, 000 and 25000 euros, which will be cheaper than Volkswagen's ID.3 electric car, which goes on sale in September.

It is worth noting that Volkswagen is producing the latest small pure electric car with Chinese joint venture partner JAC, which is initially produced only in China and will be exported to Europe in the future, according to a recent report in the German business newspaper citing people familiar with the matter.

Of course, after Volkswagen Group invests in JAC, Volkswagen will gain more main control of JAC-VW, and let more models complement and cooperate with FAW-Volkswagen and SAIC-Volkswagen after the plant is put into production. this also has more advantages than disadvantages for JAC. However, many people in the industry worry that although Jianghuai can benefit from joint ventures and cooperation, it is afraid that it will become a "contract factory."

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