Urban Mobility
Volkswagen AG signed a preliminary deal with China’s Anhui Jianghuai Automobile (JAC Motor) to explore making electric vehicles in a new joint venture, the two automakers said on Wednesday. The two sides are studying the feasibility of a joint venture and aiming to sign a formal agreement within five months, JAC Motor said in a stock exchange filing. Volkswagen VLKAY
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The Philippine Parts Makers Association (PPMA), a group of local automotive parts and components manufacturers, voiced this concern at their recent quarterly meeting. “We are pushing for the CARS (Comprehensive Automotive Resurgence Strategy) assemblers to prioritize the SME local parts makers to supply in the start of volume production,” said PMMA President Ferdinand Raquelsantos. For now, Raquelsantos said all they
Read moreChina’s government is considering the removal of caps on stakes foreign carmakers can own in joint ventures with local partners, potentially loosening a policy criticized for shielding state-owned companies from competition. Xu Shaoshi, chairman of the National Development and Reform Commission, said the government is looking into lifting the 50 percent cap in an interview at a World Economic Forum
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