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Anhui Jianghuai Automobile of China announced on Tuesday that it will increase its joint venture’s registered capital with Volkswagen China from 7.4 billion yuan to 13.9 billion yuan, Reuters reported.
Jianghuai Auto will invest an additional 1.6 billion yuan into Volkswagen Anhui, while Volkswagen China will put in 4.8 billion yuan, the news agency said.
Despite these changes, the ownership stakes in the joint venture will remain the same, with Jianghuai Auto and Volkswagen China retaining 25 per cent and 75 per cent, respectively, according to a statement made to the Shanghai stock exchange, according to Reuters.
