A new Chinese electric vehicle brand with Volkswagen’s backing has debuted the industry’s first sodium-ion battery-powered electric car. JAC Group’s Yiwei rolled out the new JAC Yiwei EV in late December. Yiwei was established in early 2023 under the JAC Group, and its parent company is jointly owned by the Chinese government and Volkswagen.
The German automaker bought a 50% stake in the JAC group for $1.09 billion and also assumed full control of its existing EV joint venture’s management with…
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