In this Tuesday, April 16, 2019, file photo, Volkswagen unveils a concept electric SUV, the whimsically named ID. ROOMZZ during the Auto Shanghai 2019 show in Shanghai. - AP
BEIJING (AFP): Volkswagen said on Friday (May 29) it will invest around 2 billion euros (US$2.2 billion) in two Chinese companies in the electric vehicle sector, calling it "the world's biggest market".
The German car giant said it will take a 50 per cent stake in JAG -- the parent company of state-owned JAC Motors -- and increase its holding in the JAC Volkswagen joint venture from 50 pe rcent to 75 per cent for around 1 billion euros.
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