Volkswagen aims to pass the 2m sales mark this year with its joint ventures in China.
The group is currently celebrating the 20th anniversary of its partnership with First Auto Works (FAW) in China which has created more than 15,000 skilled jobs since over the past two decades since beginning with Audi 100 assembly.
Go deeper with GlobalData
The FAW-VW joint venture was established in 1991 and is now one of China’s largest carmakers, producing more than 5m vehicles since operations began. The company expects annual production to top the 1m mark for the first time this year.
VW CEO Martin Winterkorn, speaking at a ceremony to mark the anniversary, said: “Together with FAW we have played a decisive role in shaping mobility in China. We aim to grow further and to create new jobs. We have laid the right foundations with targeted investments of EUR10.6bn (US$15.3bn) in capacity expansion and new vehicles.”
China has been the group’s largest market since 2009. The FAW joint venture produces VW and Audi vehicles as well as parts and components at its plants in Changchun, Chengdu and Dalian.
VW also operates a second joint venture in cooperation with Shanghai Automotive Industry Corp.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe group employs over 40,000 people in China.
