BEIJING, July 10 (Xinhua) -- Anhui Jianghuai Automobile Group Corp., Ltd. (JAC) announced Tuesday that it had inked cooperation memorandum of understanding (MOU) with Volkswagen China and SEAT, S.A. to jointly establish new energy vehicle (NEV) R&D center and co-develop pure electric vehicle platform.
The long-term goal of the R&D center would be a focus on electric vehicles, car networking and autonomous driving technology, according to the MOU.
The parties hope to start planning the R&D center in 2018 and complete construction 2021.
Total investment for R&D center and the above-mentioned platform development is estimated to be approximately 500 million euros (4 billion yuan). (Edited by Niu Huizhe, niuhuizhe@xinhua.org)
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