Volkswagen has opened a second large plant for Volkswagen’s car joint venture with First Automotive Works Corp (FAW) in Changchun, capital of Northeast China’s Jilin Province. The completion of the second plant, with an investment of Yuan 12.3 billion (US$1.5 billion), will double the venture’s annual production capacity to 660,000 vehicles.
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German Chancellor Gerhard Schroeder, who is visiting Beijing, yesterday (Dec 7) said he expects carmaker Volkswagen to maintain its market share in China’s car market, despite acute competition in the auto sector.
“I hope Volkswagen will keep its market share (in China) to benefit itself and China’s auto industry, and to preserve Germany’s job and investment opportunities,” Schroeder said in remarks reported in China Daily.
The chancellor made his remarks yesterday during a ribbon-cutting ceremony at the opening of the plant.
“I have confidence in the vigour of China’s market and economy, and the capabilities of the two sides in the joint venture,” he reportedly added.
