October 14, 2014

Volkswagen extends cooperation with Chinese partner FAW Group

After 20 years of successful cooperation the Volkswagen Group and its Chinese joint-venture partner First Automotive Works (FAW) are extending their present partnership for a further 25 years, until the year 2041. In addition, the Volkswagen Group and the Chinese
joint-venture partner SAIC are investing in the Shanghai Volkswagen (SVW) proving ground in Xinjiang province, western China. Both agreements were signed in Berlin in the presence of Li Keqiang, Premier of the People's Republic of China, Dr. Angela Merkel, Chancellor of the Federal Republic of Germany, and Prof. Dr. Martin Winterkorn, Chairman of the Board of Management of Volkswagen Aktiengesellschaft. A joint memorandum concerning cooperation in the field of vocational training was also signed in Wolfsburg with the Chinese Ministry of Education.

Based on the extended cooperation, Volkswagen and FAW will be able to expand significantly existing research and development activities in China and move into new business areas in the coming years, above all in the field of alternative drive technologies. The agreement was signed by Prof. Dr. Jochem Heizmann, Member of the Board of Management of Volkswagen Aktiengesellschaft with responsibility for China and President and CEO of Volkswagen Group China, and Xu Jianyi, Chairman of the FAW Group. Back in July of this year, Volkswagen and FAW agreed to expand their production capacity by building two new plants in Qingdao and Tianjin.

"Together with its strong partners Volkswagen is focusing on innovation, eco-friendly technologies and excellently trained employees in China. Today's agreements pave the way for the sustainable development of China’s automotive industry and for the Volkswagen Group and its joint ventures to benefit from growth," said Winterkorn.


Post a Comment

Related Posts Plugin...

back to top