VW to build 2 more assembly plants in China
Volkswagen Group will build two assembly plants in China with its joint venture partner China FAW Group Corp. to strengthen its presence in China's fast-growing market.
The two factories will be built in the east China port city of Qingdao and the northeast China port city of Tianjin, the German auto giant said on Monday.
The company will spend 2 billion euros (16.8 billion yuan) to build the two facilities. Construction schedules for the two plants have yet to be disclosed.
Volkswagen's partnership with FAW now operates four assembly plants. Two plants are in Changchun, one is in Chengdu, and the fourth plant is in Foshan.
Volkswagen's partnership with SAIC Motor Corp. maintains five assembly plants. Two are in Shanghai, three are in the cities of Ningbo, Nanjing and Yizheng, and one is in Urumqi.
Volkswagen and SAIC are also building a sixth assembly plant in Changsha.
In the first five months of this year, Volkswagen and its two joint ventures in China sold 1.5 million Volkswagen, Audi and Skoda vehicles, up 18 percent year-on-year.
The company will spend 2 billion euros (16.8 billion yuan) to build the two facilities. Construction schedules for the two plants have yet to be disclosed.
Volkswagen's partnership with FAW now operates four assembly plants. Two plants are in Changchun, one is in Chengdu, and the fourth plant is in Foshan.
Volkswagen's partnership with SAIC Motor Corp. maintains five assembly plants. Two are in Shanghai, three are in the cities of Ningbo, Nanjing and Yizheng, and one is in Urumqi.
Volkswagen and SAIC are also building a sixth assembly plant in Changsha.
In the first five months of this year, Volkswagen and its two joint ventures in China sold 1.5 million Volkswagen, Audi and Skoda vehicles, up 18 percent year-on-year.
