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Anhui Jianghuai Automobile Group Corp.,Ltd. (600418.SS)
- Just Auto
Nio and Volkswagen key to future for JAC
A shake-out which began twelve months ago is seeing many brands disappear from China's monthly sales charts. For a while, Anhui Jianghuai Automobile also looked vulnerable. Instead, this medium-sized car maker has found a niche by contract manufacturing EVs and continuing a steady roll-out of of its own JAC-brand models.
- Reuters
Nio to take over plant assets from manufacturing partner JAC
SHANGHAI/BEIJING (Reuters) -Nio said it would take over some plant assets from partner Anhui Jianghuai Automobile Group (JAC) as the Chinese electric vehicle maker moves closer to producing cars on its own to save manufacturing costs. In October, state-owned JAC put up for sale the assets at the two plants, known as F1 and F2, where Nio has been producing its electric vehicles (EVs). Nio said in an exchange filing on Tuesday that it would take some fixed assets and equipment at the two factories from JAC at a price of 3.16 billion yuan ($442.19 million).
