Shanghai (ZXZC)- In June this year, Volkswagen and JAC Motors (JAC), in Berlin, Germany, officially signed an agreement to establish a JV company. Recently, a picture was revealed on the internet that is believed to be the logo of the JV, which adopted "S" shape design and chrome cladding, similar to the logo of SEAT, but the "S" of JAC is complete, while the SEAT one is half-way split. "E-mobility" in the picture indicates that these two companies will work together on new energy products.

JAC and Volkswagen both expressed their will to build an independent and advanced research system, design a new brand and logo, innovate technology cooperation and business model, and develop global market through fully utilizing their resources, so as to secure their comprehensive cooperation on new energy vehicles (NEV), and the development, manufacturing and sales of vehicle parts and components.

Professor Jochem Heizmann, Chairman and CEO of Volkswagen China, said, "Volkswagen cooperates with JAC on multiple programs, not only one, but the top priority is SUV undoubtedly." The first all-electric SUV of JAC Volkswagen JV company may integrate the advantageous design and technology of Volkswagen based on JAC iEV6S. In addition, the new SUV will be launched as early as 2018.

The Board of Directors of JV comprises of 8 directors, with Volkswagen and JAC each designating 4 members. Chairman of JV is undertaken by the director appointed by Volkswagen, and Vice Chairman by JAC. The employment and dismissal of General Manager will be decided by the BoD. First Deputy General Manager will be nominated by Volkswagen while decided by the BoD.

The registered capital of the 50-50 JV company is RMB 2 billion, with a contract term of 25 years. The location is in the economic development zone of Hefei, Anhui, covering an area of 461 thousand square meters. The company is estimated to be completed and put into operation by the end of 2018, with an expected annual production capacity of 100 thousand all-electric passenger vehicles.