Volkswagen (VW) plans low-cost car and General Motors (GM) considers emerging market expansion with Chinese partnerships
Volkswagen (VW) and General Motors (GM) are developing strategies for growth in emerging markets with the help of their Chinese partners.
VW plans to build a low-cost car in China, according to Ulrich Hackenberg, VW's brand-development chief, quoted in a Reuters report. VW plans to develop and build this car with one of its existing JV partners in China, and is considering a price range of between EUR5,000 and EUR10,000, which may include a van and a small sedan car. Martin Winterkorn, chief executive officer (CEO) of VW, said that a decision on a budget car for emerging markets would be made this year.
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