"Buy when there's blood in the streets..." This is likely the adage Volkswagen had in mind during the collapse of China's car market over the last quarter, as a result of both an auto market mired in pre-virus recession, and the effects of the pandemic and its ensuing lockdowns. Volkswagen, eager to gain ground on Tesla in the EV space globally, went on an acquisition/investment spree, according to Reuters . The company is now sealing "its largest investments deals with Chinese EV firms". Volkswagen will buy 50% of Anhui Jianghuai Automobile Group Holding , the parent of EV partner JAC Motors for $491 million and will become the largest shareholder of EV battery maker Guoxuan High-tech Co Ltd. Anhui Jianghuai is fully state owned and has a 25.23% stake in JAC, which has a market value of $1.84 billion. Volkswagen plans to deploy fresh capital with the JV in hopes of building capacity to manufacture with its MEB platform - the company's arc
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