Volkswagen-Backed JAC Begins Mass Production For Sodium-Ion Battery-Powered EV In China
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JAC Yiwei EV, the world's first electric vehicle powered by a sodium-ion battery, has begun mass production in China. The EV is a result of a collaboration between Anhui Jianghuai Automobile (JAC) and Volkswagen Group (OTC:VWAGY). The Yiwei EV uses a sodium-ion pack from HiNa Battery and JAC's UE module technology. Volkswagen's investment in JAC and a recent $700 million investment in Xpeng for a nearly 5% stake are part of its strategic moves in China's booming EV sector. Sodium-ion batteries are seen as a cost-effective solution that could drive the widespread adoption of electric vehicles.
December 28, 2023 | 1:36 pm
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Volkswagen Group, through its partnership with JAC, has commenced mass production of the JAC Yiwei EV, the first EV powered by sodium-ion batteries. This move aligns with Volkswagen's investment strategy in China's EV market, including a recent $700 million investment in Xpeng.
Volkswagen's direct involvement in the production of the JAC Yiwei EV and its recent investments in the Chinese EV market suggest a positive outlook for VWAGY. The innovative sodium-ion battery technology could give Volkswagen a competitive edge, potentially leading to increased investor interest and a positive short-term impact on the stock price.
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