Volkswagen agrees to buy 50% of EV partner JAC's parent company

Representative image/Reuters Photo

Anhui Jianghuai Automobile Group (JAC Motors) said on Friday that German automaker Volkswagen AG agreed to buy 50% of its parent company Anhui Jianghuai Automobile Group Holding.

Reuters reported on Wednesday that Volkswagen is in final talks to invest in the Hefei-based state-owned automaker.

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