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Volkswagen to Increase Investment in China
Piech, president of Volkswagen said that the company will carry on its development strategy in China, introducing more of its sophisticated products to Changchun and Shanghai.
In the coming five years, Volkswagen plans to invest 1.6 billion Euro-dollar (about 12.07 billion yuan) into China for market development, taking up 87 percent of its total investment volume in Asia Pacific region.
Piech said with an endeavor of 4 years, FAW Volkswagen has scored great achievements with its sales volume increased by 3 folds and revenue up to 4 times, in the meanwhile, the company realized a profit of 3 billion yuan last year, a sound and stabilized development.
Sound and sustained development of economy in China is pushing Volkswagen to continue its strategy in China. Piech said, " We have strong reasons to believe that China would become one of the fastest-developed auto markets in the world. We will keep close cooperative relationship and face various challenges together. We will not only invest in China, but also invite our Chinese partners to Germany.
As reported the two Volkswagen joint ventures have recently continued to adopt advanced technologies and import modern accessories and introduce its newly developed products into China. Lu Linkui, president of FAW Volkswagen said that in the recent three years, the company's yearly investment in new products development exceed one billion yuan and its total investment has been increased from 11 billion yuan to 14 billion yuan.
By PD Online staff member Li Yan
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