VW eyes buying big stake in China partner JAC, report says

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HONG KONG — Volkswagen Group is exploring purchasing a big stake in its Chinese electric-vehicle joint-venture partner JAC Motors and has tapped Goldman Sachs as an adviser on the plan, people with direct knowledge of the matter said. The move by VW, the largest foreign automaker in China, to buy into JAC is the latest step by foreign automakers to increase their stakes in their Chinese joint venture partners or in the ventures themselves since Beijing relaxed ownership rules last year in the world’s biggest car market. BMW agreed in October to buy control of its main joint venture in …

Read the source article at Front Page