JAC Motors (Jianghuai Automobile Group Corp) signed an agreement with Volkswagen Group (China) and SEAT to further promote the deployment of Seat brand in China, the joint venture R&D center will be opened in 2021.
A few days ago, JAC Motors and Volkswagen Group (China) and SEAT signed an agreement at SEAT headquarters in Martorell, Spain. The agreement confirms the further promotion of SEAT’s strategic layout in the Chinese market and clarifies the introduction of the SEAT brand into China in the next two to three years. In addition, the new R&D center of the three-party joint venture is currently under construction and will be officially opened in 2021.
It is understood that the agreement proposes to strengthen cooperation between the parties and clarify the future development strategy of the joint venture; and the new R&D center will lay the foundation for the development of mobile travel solutions, integrate resources of all parties, and jointly develop small electric vehicles and parts, and carry out vehicle technology application research.
In July 2018, JAC Motors and Volkswagen Group (China) signed a memorandum of understanding in Berlin, Germany. SEAT first appeared as a partner and prepared a joint investment of 500 million euros to build a new energy vehicle R&D center. In November 2018, JAC Motors and Volkswagen Group (China) and SEAT signed an agreement in Madrid, Spain, officially confirmed the joint venture relationship, introduced the SEAT brand to China, and settled the R&D center in Hefei.
The three parties have given a rough timeline for each project:
On December 10, 2018, the joint research and development center of Jianghuai, Volkswagen and SEAT was opened.
In 2019, SEAT will hold 1% stake in JAC-Volkswagen;
Localization of the SEAT brand in 2020-2021.
The R&D Center to be officially opened in 2021;
In 2021/2022, an electric vehicle platform developed based on the R&D center will be launched.
