Volkswagen Pours More Than $2 Billion Into China’s Electric-Car Industry

SHANGHAI—Volkswagen AG is investing €1 billion ($1.11 billion) in a Chinese auto maker and a further €1.1 billion in a local battery producer, the company said Friday, in the latest bet by the German auto maker on the Chinese electric-vehicle sector.

Volkswagen is increasing its stake in an existing joint venture with JAC Motors to 75% from 50% through the acquisition of half of JAC’s parent company, state-owned Anhui Jianghuai Automobile Group. The joint venture focuses on electric vehicles.

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