The Volkswagen Group will in future be cooperating more closely with its Chinese joint venture partners SAIC Motor and First Automotive Works (FAW) Group in the field of forward-looking technologies, according to new agreements signed recently in Berlin, Germany.
Further development of particularly eco-friendly models along with a joint research project was agreed for Shanghai Volkswagen (SVW), while the development and production of a new, “very eco-friendly vehicle” in China was agreed with FAW.
Go deeper with GlobalData
The signing ceremony took place in the presence of the president of the People’s Republic of China, Xi Jinping, and the chancellor of the Federal Republic of Germany, Dr. Angela Merkel.
VW’s China chief Jochem Heizmann said: “Volkswagen has already been a reliable partner for the People’s Republic of China for 30 years. We will continue to set the standard in the Chinese automotive industry with highly-efficient engines and forward-looking technologies.”
The projects are part of a EUR18.2bn (US$25.03bn) investment programme in new plants and products which Volkswagen and its joint venture partners are implementing between 2014 and 2018. In total, the investment programme is the largest in the history of the Chinese automotive industry. VW is working with its partners to foster the development of sustainable mobility in China.
Agreement was also reached on further expanding production capacity at the FAW-Volkswagen joint venture though a location has not yet been selected.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataVW wants to be able produce over 4m vehicles per year in China by 2018. In 2013, it built over 3m vehicles there.
