SAIC Volkswagen starts building $2.5 billion China plant
Volkswagen’s China venture with SAIC Motor has started constructing a $2.5 billion new energy vehicle (NEV) plant in Shanghai, that will make automaker’s luxury Audi brand cars, a potential first for the venture. The new plant is a major step for Audi to diversify production of its cars in the world’s largest auto market from
- Published in Volkswagen
Audi seeks to double production with partner FAW in five years in China
German luxury automaker Audi AG is looking to double China production with regional partner China FAW Group under five years, its chief executive stated on Wednesday, as worldwide automakers seek to localize in the world’s largest auto market. Discussing at the Beijing auto show, Audi head Rupert Stadler stated the automaker would look to provide
- Published in Audi
Audi thinks of doubling China sales in six years
Volkswagen’s premium brand Audi thinks of doubling sales in China during the coming six years, sales chief Bram Schot informed Automobilwoche. “In 2023 we want to sell 1.2 million cars in China,” the German trade magazine quoted Schot as saying. In 2017, Audi sold 597,000 vehicles in China, its biggest single market. The company last
- Published in Audi
General Motors proposes $2.8 billion investment in South Korea
General Motors has proposed an investment of $2.8 billion into its loss-making South Korean operations over the next 10 years and has asked Seoul to offer its share of the funds, a South Korean government official stated on Wednesday. The United States automaker revealed last week it would close down a factory in Gunsan, southwest
- Published in General Motors
Audi sales volumes in China to increase enough to reverse previous sales drop
German automaker Audi anticipates sales volumes in China to increase highly enough in November and December to reverse a 3 percent drop there in the first 10 months of the year. Joachim Wedler, the head of the brand’s Chinese organization, told Reuters on he anticipated a small single-digit percentage increase in full-year volumes in the
- Published in Audi
General Motors electric car sales to meet quotas by 2019
General Motors’ China joint ventures will be able to create enough new energy vehicle (NEV) sales volume to represent NEV production quotas by 2019 and without the requirement to buy credits, GM China chief Matt Tsien stated on Monday. China has set rigid production quotas for NEVs which automakers need to meet by 2019, a
- Published in General Motors
Volkswagen and JAC electric car venture gets approval from Chinese regulators
Volkswagen and Anhui Jianghuai Automobile (JAC Motor) have gotten approval from Chinese regulators to form a joint venture to develop electric vehicles, the two companies stated on Monday. The National Development and Reform Commission (NDRC), China’s leading state organizer, provided a green light to JAC and Volkswagen to develop 100,000 pure battery electric vehicles yearly
- Published in Volkswagen
General Motors will stop selling cars in India but still remain
General Motors plans to stop selling vehicles in India from the end of this year, drawing the line under more than 20 years battling among the world’s most competitive markets where it has below one percent share of passenger car sales. The decision was revealed as part of a series of reorganizing actions from the
- Published in General Motors
Volkswagen expects China sales to increase at least 4-5 percent this year
Volkswagen’s China sales are set to rise a minimum of 4-5 percent this year, the automaker’s China chief stated on Tuesday. VW China CEO Jochem Heizmann also stated the company was seeking to quickly resolve concerns amongst some Chinese dealerships of its Audi AG vehicles over a tie-up with SAIC Motor. The China Association of
- Published in Volkswagen
Former Volkswagen chairman Piech on his way to sell Porsche SE stake
Former Volkswagen chairman Ferdinand Piech remains in talk to offer his stake in Porsche SE in a deal that would shock the ownership structure of the business that manages Volkswagen. Porsche SE is the group from which the billionaire Porsche and Piech families manage 52.2 percent of the ballot shares in Volkswagen, which is still
- Published in Volkswagen
Volkswagen won’t develop Audi cars with SAIC in China before 2018
Volkswagen stated on Wednesday it would not produce or offer any Audi automobiles with SAIC Motor till at least 2018, seeking first to enhance ties with present Audi partner China FAW Motor. Volkswagen stated in November a non-binding contract with SAIC to talk about a collaboration relating to Audi AG, which is the best selling
- Published in Volkswagen
General Motors says 2016 China sales increased 7.1 percent year on year
General Motors and its Chinese joint venture partners sold 3.87 million automobiles in China in last year, rise of 7.1 percent from 2015, the United States car manufacturer stated on Thursday. General Motors did not instantly provide December sales figures for China. The top two markets for the automaker in 2011 were China, with 2,547,203
- Published in General Motors
Audi, SAIC Motor sign agreement to construct Audi cars in China
Audi and China’s SAIC Motor signs a contract The contract will likely lead the way for the German high-end automaker to produce automobiles in China with SAIC, an individual knowledgeable about the matter informed Reuters. Executives of Audi and SAIC officially signed the cooperation framework contract on Friday, and the German automaker is expected to