Around €1 billion is to be invested towards this purpose that includes acquisition of 50 percent of JAG, the parent company of the Volkswagen partner JAC, and an increase in the stake in JAC Volkswagen from 50 to 75 percent. By gaining Management control, Volkswagen is paving the way for more electric models and infrastructure.

In addition, Volkswagen will acquire a 26 percent stake in battery manufacturer Gotion High-Tech Co., Ltd. for around €1 billion, becoming the company’s largest shareholder.

Dr Herbert Diess, CEO of Volkswagen AG, said, “Together with strong and reliable partners, Volkswagen is strengthening its electrification strategy in China. The electric cars segment is growing rapidly and offers a great deal of potential for JAC Volkswagen. We are actively driving forward the development of battery cells in China through our strategic investment in Gotion.”

Dr Stephan Wöllenstein, CEO of Volkswagen Group China, said, “I am delighted with this strategic milestone in our mutual and trusted relations as Volkswagen takes a strategic role in a state- owned company for the first time, as well as investing direct in a Chinese battery supplier. These investments shape the character of Volkswagen in China, making it a more localized, more sustainability-focused mobility company. By opening up the market, China is giving Volkswagen new business opportunities.” Volkswagen Group China has already outlined its route to becoming a net carbon-neutral company. In 2025, around 1.5 million NEVs are planned for delivery to customers across the country. China is the world´s biggest market for e-mobility.

Transformation  

By strengthening its position and advancing the JAC Volkswagen joint venture through a capital increase, Volkswagen is taking the next step in its Chinese electrification strategy. Letters of intent were co-signed by Volkswagen (China) Investment Co. Ltd. and the Government of Anhui province, which foresee Volkswagen raising its stake from 50 percent to 75 percent within the JAC Volkswagen joint venture via a capital increase. To make this possible, the group will also be investing in the Anhui Government-owned entity JAG, the parent company of JAC. The parties intend to close the deal amounting to €1 billion by the end of the year, subject to customary regulatory approvals.

Founded in 2017, the JAC Volkswagen joint venture is an all-electric company which develops, produces and sells NEVs. A portfolio expansion of up to five additional BEV models by 2025 is planned, as well as building a full-scale e-model factory and finishing the R&D center in Hefei.

Securing Battery Supply

Volkswagen has found a further partner to secure future demand for batteries for its Chinese e- models. With the signing of binding agreements, Volkswagen (China) Investment Co Ltd will become the largest shareholder in Gotion, with 26 percent of the shares, through a buy-in of around €1.1 billion. It is the first global automaker to invest direct in a Chinese battery supplier. It is planned to complete the deal by the end of 2020, subject to customary regulatory approvals.

The partnership is an opportunity for Volkswagen to achieve deeper know-how in the field of batteries. Gotion maintains various current and future projects over the entire battery value chain from sourcing, development and production to recycling. The company is in the process of becoming a certified Volkswagen Group battery supplier in China, including supplies for local MEB vehicles.

The MEB is the new modular electric vehicle platform of the Volkswagen Group. The deal will not affect ongoing contracts with other battery suppliers. (MT)

German passenger vehicle manufacturer Volkswagen has announced the introduction of the Tiguan R-Line in India. The SUV features R-themed design elements, updated aerodynamics and enhanced functionality.

The Tiguan R-Line includes LED Plus headlights, a horizontal LED strip at the rear and 19-inch Coventry alloy wheels with diamond-turned surfaces. The front design incorporates a glass-covered horizontal strip and radiator grille openings positioned towards the outer edges of the front bumper.

Inside, the SUV gets an updated cockpit layout with R-Line inserts on the front sport seats and an illuminated R logo on the dashboard. The cabin includes ambient lighting with 30 colour options for the dashboard and door trims. A panoramic sunroof is also part of the design. Other features include an illuminated moulding between headlamps, rear combination lamps and illuminated door handle recesses. Pedals are finished in brushed stainless steel and the vehicle is equipped with roof rails and chrome-trimmed air intakes.

The Tiguan R-Line is equipped with seats that feature a massage function and adjustable lumbar support. It also includes Air Care Climatronic (3-zone), Park Assist Plus with Park Distance Control and wireless charging for two smartphones.

TATA.ev, the electric vehicle subsidiary of Tata Motors, has launched its electric vehicle portfolio in Mauritius in collaboration with automobile distributor Allied Motors.

With this, the company’s popular EV offerings the Tiago.ev, Punch.ev and Nexon.ev will be available for customers in Mauritius.

Yash Khandelwal, Head International Business, Tata Passenger Electric Mobility, said, “We are thrilled to introduce our electric vehicle portfolio in Mauritius, marking our first international expansion beyond the SAARC region. With the government’s strong commitment to sustainable mobility, Mauritius holds strategic importance in our EV journey. As a pioneer of the EV revolution in India and a proven success in SAARC markets, Tata.ev is well-positioned to support the country’s transition to electric mobility. Our diverse range of EVs—spanning multiple body styles and battery options—combined with an unmatched ownership experience and the strong partnership of Allied Motors, sets the stage for a transformative shift in Mauritius’ automotive landscape.”

James Ngan, Managing Director, Allied Motors, Mauritius, said, “Our partnership with Tata.ev is a game-changer for Mauritius, bringing an exceptional range of electric vehicles to a country that is ready to embrace sustainable and innovative mobility solutions. The new Tata.ev portfolio offers a perfect combination of power, efficiency, and advanced technology, giving consumers access to world-class electric mobility. Backed by our extensive service and after-sales support, we assure customers of a seamless ownership experience. This is just the beginning, and we are excited about the positive impact these EVs will have in revolutionising Mauritius’ automotive landscape.”

Hyundai Motor India, one of the leading passenger vehicle manufacturers in the country, has made strong headway in the country’s stock markets.

The carmaker which got listed on 22 October 2024, has now found its stock being included on NIFTY Next 50, NIFTY 100, NIFTY 500, S&P BSE 500 and other key capital market indices.

Unsoo Kim, Managing Director, Hyundai Motor India, said, “As a listed entity, we are elated to cross yet another important milestone. By becoming a part of prestigious Indian capital market indices such as the NIFTY Next 50 and S&P BSE 500, we have fortified HMIL’s standing in the Indian stock exchanges, reinforcing its market presence and credibility. As India grows, HMIL will continue to grow intrinsically with it, along with a constant focus on driving innovation, improving operational efficiencies, and making strategic investments that will strengthen our business outlook and contribute to the growth of the Indian economy.”

Interestingly, Hyundai Motor India’s debut on the stock exchange was also one of the largest Initial Public Offerings (IPO) in the country.

File photo: Hyundai Listing Ceremony

Maruti Suzuki India, the largest carmaker in the country, has announced a major investment of INR 74.1 billion towards a new under-construction plant with a capacity to produce 250,000 units per year.

This new facility will complement the company’s existing facility at Kharkoda plant, which went on stream in February 2025.

The new facility that is expected to go live by 2029 will expand the company’s manufacturing capabilities to 750,000 units per year. Maruti Suzuki India is optimistic that the demand for made-in-India passenger vehicles will continue both in the domestic as well as export markets.

The investment will be done through the company’s internal accruals.

Furthermore, Dr Tapan Sahoo, currently ED – Engineering will take on the additional responsibility of Digital Enterprise vertical.

On the other hand, the company announced that it has appointed Sunil Kakkar as an Director (Corporate Planning) for a period of three years till 31 March 2028.