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

If you liked the article, share on:

Comments

Recommended

While Tesla Motors continues to struggle with regards to the assembly of its much awaited Tesla Model 3, investment firm Oppenheimer & Co. is confident that its previous production estimates...
by - October 22, 2017
It seems that BMW’s high-performance division -- BMW M – still has not warmed up to front-wheel drive vehicles. So those who had been looking forward to BMW M vehicles...
by - October 22, 2017
Porsche already has the Performance Package for their range-topping Macan Turbo, which is currently available in some countries. Soon, this model will be dethroned by something even fancier by the...
by - October 22, 2017
After the highly dynamic Polestar 1 two-door coupe – Polestar’s first ever production car -- was recently unveiled, not a few people’s curiosity was piqued as to how much they...
by - October 21, 2017
The BMW 7 Series is already highly sought after but nonetheless, the German marque is giving it a more exclusive variant for the Russian market, and they are calling it...
by - October 20, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries