FAW-VW invest USD2.5 bil. in Foshan plant expansion and new products
New plant will open this year with annual production capacity for 300,000 units and be expanded to double factory output in 36 months time
Volkswagen (VW) and its joint venture (JV) partner, FAW Group, will invest a total of 15.3 billion yuan (USD2.5 billion) in the new Foshan plant in China's Guangdong province, the JV company has said in a press release. The investment will include actual factory expansion, as well as new products and product development. The new plant, which will open this year with annual production capacity for 300,000 units, will be expanded to double factory output in 36 months time, according to the press release.
Thank you for visiting S&P Global AutoTechInsight.
*A subscription to News & Analysis includes four S&P Global-selected sector-specific analytical pieces per month. Access to all analytic pieces across all domains comes with a subscription to All Domains. Please click here to subscribe.
To get access to the AutoTechInsight full suite of services, please contact a sales representative by clicking here.
Already a subscriber? Please log in here
