SEAT is teaming up with Volkswagen Group China and Anhui Jinghuai Automobile Group Corp, Ltd (JAC) in China. SEAT signing of the Memorandum of Understanding and becomes a shareholder of JAC Volkswagen which will also include the introduction of the SEAT brand in the Chinese market targeting 2020-2021.
SEAT will also actively participate in the creation of an R&D center in China which will focus on electric vehicles, connectivity and autonomous driving. The joint venture will also launch a competitive BEV platform. SEAT President Luca de Meo; Volkswagen Group China President Dr. Jochem Heizmann; and JAC President An Jin, in the presence of German Chancellor Angela Merkeland China’s Prime Minister Li Keqiang were present in the signing of the agreement held in Berlin, Germany.
According to SEAT President Luca de Meo:
“Our participation in this new phase of the joint venture is a milestone for SEAT. Today will be remembered in the history of the company, as we are entering a new era that will enable us to globalize the brand and boost the development of the electric vehicle. China offers many opportunities for SEAT and we are going to contribute mobility solutions to suit the needs of customers. This is also a chance for us to learn from the future trends that are developing in China.”
About VW Group
Volkswagen Group is a German multinational automotive manufacturing company headquartered in Wolfsburg, Lower Saxony, Germany. It designs, manufactures and distributes passenger and commercial vehicles, motorcycles, engines, and turbo machinery and offers related services including financing, leasing and fleet management.
Volkswagen was founded in 1937 in Berlin, Germany to manufacture the car which would become known as the Beetle. In 2015, it produced 9.93 million motor vehicles, the second-largest number of any company in the world, behind Toyota and ahead of General Motors. The company sells passenger cars under the Audi, Bentley, Bugatti, Lamborghini, Porsche, SEAT, Škoda and Volkswagen marques; motorcycles under the Ducati brand; and commercial vehicles under the marques MAN, Scania, Neoplan and Volkswagen Commercial Vehicles.
It ranked seventh in the 2016 Fortune Global 500 list of the world’s largest companies. With revenue of €213.292bn($225.76bn) and 610,076 employees.
Founded in 1964, JAC . manufactures and sells passenger and commercial vehicles. Also known as Anhui Jianghuai Automobile Group Co., Ltd (JAC) offers passenger cars, bus chassis, buses, SRVs, sedans, and gasoline engines; and special vehicles, such as ambulances, police wagons, and traffic control vehicles, as well as modified passenger cars and commercial vehicles. The company is headquartered in China.
Founded in 1950. SEAT, S.A. designs, manufactures, and markets cars. Headquartered in Barcelona, Spain SEAT, S.A. operates as a subsidiary of Volkswagen Finance Luxemburg S.A. SEAT, S.A. was formerly known as Sociedad Española de Automóviles de Turismo.