BEIJING (Reuters) – China’s Anhui Jianghuai Automobile said on Tuesday it and Volkswagen China will boost their joint venture’s registered capital to 13.9 billion yuan from 7.4 billion yuan.
Jianghuai Auto will contribute 1.6 billion yuan in Volkswagen Anhui, while Volkswagen China will contribute 4.8 billion yuan, with their holdings in the joint venture remaining unchanged at 25% and 75% respectively, the company said in a filing to the Shanghai bourse.
(Reporting by Ella Cao, Ethan Wang and Ryan Woo; editing by Jason Neely)
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