Volkswagen will have full control of JAC-VW Chinese venture

German automaker Volkswagen is going to have full management control of its JAC-VW joint venture, the company’s China CEO stated on Friday.

Stephan Wollenstein informed a media briefing that production of electric vehicles based on the MEB platform will begin at the JAC-VW venture in 2023.

Volkswagen on Friday stated it had agreed to spend 2.1 billion euros ($2.3 billion) in two separate Chinese electric vehicle businesses, empowering its position in the world’s biggest auto market as international competitors seek to muscle in.