Volkswagen has joined forces with the Chinese joint venture FAW-Volkswagen Automotive. VW thus opens up a strategically important access to the Chinese market.
Beijing – Volkswagen and the Chinese joint venture FAW-Volkswagen Automotive have signed a multi-billion dollar cooperation agreement. Next year, the joint venture with the Chinese automotive group FAW vehicles and components for about nine billion dollars in the People's Republic import, said Volkswagen on Tuesday.
The agreement was signed at the China International Import Expo in Shanghai. For the VW brand, China – like many western manufacturers – is by far the largest single market by far.