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Volkswagen Will Add Two More Assembly Plants in China
Volkswagen AG and Chinese partner FAW Group Corp. plan to spend a combined €2 billion to erect car plants in Qingdao and Tianjin, China.
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Volkswagen AG and Chinese partner FAW Group Corp. plan to spend a combined €2 billion to erect car plants in Qingdao and Tianjin, China.
The companies have offered no details about when the factories will open or the type and quantity of vehicles they will make. The Tianjin plant will be near a factory VW expects to open there at the end of 2014 to make dual-clutch transmissions.
VW Group sold 1.51 million vehicles in China in January-May, up 18% from the same period in 2013, through its ventures with FAW and Shanghai Automotive Industry Corp. Group.
The company targets 10% growth for the full year, which would push its volume to more than 3.5 million units.
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