4/11/2019

JAC Motors: No Formal Partnership Talks with VW

Facebook Share Icon LinkedIn Share Icon Twitter Share Icon Share by EMail icon Print Icon

JAC Motors has deflected reports that the Chinese company and Volkswagen AG are discussing a possible equity investment by the German carmaker.

Share

Facebook Share Icon LinkedIn Share Icon Twitter Share Icon Share by EMail icon Print Icon

China’s Anhui Jianghuai Automobile Co. Ltd. has deflected reports that the company and Volkswagen AG are discussing a possible equity investment by the German carmaker.

Yesterday Reuters and Bloomberg News said VW is interested in taking a “significant” stake in JAC. The reports indicated the talks between the two companies are at a preliminary stage, adding that VW had asked Goldman Sachs Group to provide counsel about a potential deal.

In a stock exchange statement, JAC says it has “not conducted formal business discussions on the matters mentioned in the news reports, nor does it have any plans for an equity acquisition.”