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Chinese automaker JAC expects 2024 net loss, hit by VW venture

Published by Global Banking & Finance Review

Posted on January 24, 2025

1 min read

· Last updated: January 27, 2026

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JAC Projects 2024 Loss Due to Volkswagen Joint Venture

BEIJING (Reuters) - Anhui Jianghuai Automobile Group (JAC) expects last year's results to show a loss, it said on Friday, citing the performance of its joint venture with Volkswagen.

The Chinese automaker's stock market filing said it would swing to a net loss of 1.8 billion yuan ($248.58 million) from a 1.5 billion yuan profit in 2023.

($1 = 7.2410 Chinese yuan renminbi)

(Reporting by Qiaoyi Li and Brenda Goh; Editing by David Goodman)

Key Takeaways

  • JAC expects a 2024 net loss of 1.8 billion yuan.
  • The loss is attributed to its joint venture with Volkswagen.
  • JAC previously reported a 1.5 billion yuan profit in 2023.
  • The financial impact is detailed in a stock market filing.
  • The exchange rate is noted as $1 = 7.2410 yuan.

Frequently Asked Questions

What is the main topic?
The article discusses JAC's expected net loss for 2024 due to its joint venture with Volkswagen.
How much loss is JAC expecting?
JAC is expecting a net loss of 1.8 billion yuan in 2024.
What was JAC's financial performance in 2023?
In 2023, JAC reported a profit of 1.5 billion yuan.

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