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VW To Invest Almost 3 Billion For More Assembly Plants In China
Dan Mihalascu carscoops.com It appears that Volkswagen Group is opening assembly plants in China on a yearly basis. The automaker has announced it will build two new vehicle plants in the cities of Qinqdao and Tianjin, for which it will allocate €2 billion ($2.72 billion) together with its joint venture partner FAW. At a ceremony attended by German Chancellor Angela Merkel and Chinese Premier Li Keqiang, Prof. Dr. Jochem Heizmann, President and CEO of Volkswagen Group China, andXu Jianyi, Chairman of FAW, today signed a joint declaration for two new vehicle plants in China. “China has become our largest and most important market. To satisfy the demands of our customers in the country, we are engaging in a further substantial expansion of our capacities in China together with our Chinese partner FAW Volkswagen,” said VW CEO Prof. Dr. Martin Winterkorn, also present at the signing of the declaration.
to read more: carscoops.com
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