Volkswagen AG (VOW.XE) said Monday that it plans to explore the production of light commercial vehicles in a joint venture with its Chinese partner Anhui Jianghuai Automobile Group Corp. Ltd. (600418.SH).
The German car maker said it plans to research and develop multifunctional vehicles with its Chinese partner, and that both companies signed a memorandum of understanding to explore the potential of producing new alternatively fueled and conventional combustion engine models in a joint venture.
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The two companies have already set up a joint venture to manufacture electric passenger vehicles in June.
"With our partner JAC we want to merge experience and know-how of both companies for the benefit of the Chinese market," said Joern Hasenfuss, management board member of Volkswagen's commercial vehicle brand.
Write to Max Bernhard at Max.Bernhard@dowjones.com; @mxbernhard
(END) Dow Jones Newswires
November 27, 2017 11:01 ET (16:01 GMT)