Two Volkswagen joint ventures in China to invest EUR9.8 billion by 2015

Article by Anita Panait, on April 23, 2013

Two joint ventures of the Volkswagen Group in China will be investing over EUR9.8 billion by 2015. Around two-thirds of the investment will go to the creation of highly efficient products and their resource-conserving production. Martin Winterkorn, chairman of the Board of Management of Volkswagen AG, remarked during the 2013 Shanghai Motor Show, that they will be launching the “largest investment program in China’s automotive history.”

He said that they are convinced that climate protection and efficient technologies are drivers for economic growth. He expressed confidence that Volkswagen should also take the lead in terms of green mobility. Volkswagen expects China to play a vital role in achieving its goals.

The Group is constructing seven new sites in China, five of which are expected to commence production this year, namely: the Urumqi, Foshan and Ningbo vehicle assembly sites and Changchun and Foshan component facilities.

Volkswagen expects its total workforce in China to increase from 75,000 to 100,000 people by 2018.The Group aims to increase its annual production capacity in the country from the current 2.6 million to over 4 million units per year in 2018. The Group also aims to relieve the production burden on existing plants in a growing market.

Jochem Heizmann, member of the Board of Management of Volkswagen AG responsible for China, said they plan to offer vehicles with an electrified powertrain from 2014-2015. Some of these electric vehicles would be built in China by the joint ventures Shanghai-Volkswagen and FAW-Volkswagen.

Topics: vw, china, joint venture

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