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Volkswagen to bring SEAT brand back to China in 2020/21

Reuters  |  FRANKFURT 

(Reuters) - said its Spanish brand would return to the Chinese market in 2020/21 as part of an agreement with China's Jianghuai Automobile Group (JAC) to develop electric vehicles.

It signed an agreement on the matter with JAC as Chinese and German met in on Monday.

VW and JAC received approval last year from Chinese regulators to form a joint venture to make electric vehicles.

VW, and JAC will now jointly set up a new research and development centre in to develop for connectivity and autonomous driving, VW said.

will take a stake in joint venture JAC Volkswagen, either via a capital increase at the venture or through a transfer of shares from Group China, it added.

(Reporting by Maria Sheahan; Editing by Arno Schuetze)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Mon, July 09 2018. 22:13 IST
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