Volkswagen and Chinese partner SAIC to sell joint venture plant in west China’s Xinjiang ...Middle East

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BANGKOK (AP) — Volkswagen and Shanghai’s SAIC Motor have agreed to sell a factory in China’s far western Xinjiang region that drew criticism due to accusations by western governments of human rights violations. The companies also said Wednesday that they were extending their 40-year-old automaking joint venture until 2040, ahead of schedule, and that the JV will step up its shift to electric vehicles. Volkswagen AG was one of the first foreign investors in China’s auto industry. The 1980s model Santana sedans its JV in Shanghai made formed the basis of taxi fleets in Shanghai and other cities for many years. SAIC, based in Shanghai, says it is the largest automaker in China, turning out 5 m

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Last updated : 27 Nov 2024 clock 02:12 PM

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Volkswagen and Chinese partner SAIC to sell joint venture plant in west China’s Xinjiang ...Middle East

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