Joint venture plans of ex-VW CEO Diess and JA Solar for solar production in Europe

Former automotive executive Herbert Diess, CEO of Volkswagen until 2022, is planning to set up a joint venture with partners from China and Europe with production sites in Germany, Spain and Hungary. The majority of the company is to be held by a European consortium, while the largest single shareholder would be the Chinese solar group JA Solar Holdings Co., Ltd. This was reported by several media with reference to the news magazine »Spiegel,« which had an interview with Diess at the IAA Mobility motor show in Munich.
According to the report, it is about »a large solar company at the cutting edge of manufacturing technology,« which is to be represented with a module production facility in Germany, among other things. The funding applications for this have already been submitted.
Diess had already publicly announced in January that he was committed to establishing a solar manufacturer in the order of 20 gigawatts of annual production capacity in Europe. With the support of major manufacturers and politicians, he said, this would be possible and such a company would also be competitive.

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