left corner left corner
China Daily Website

Volkswagen to set up auto parts factory in Tianjin

Updated: 2012-09-03 11:00
( China Daily)

Volkswagen to set up auto parts factory in Tianjin

German automaker Volkswagen AG signed an agreement on Thursday to establish a factory in Tianjin as part of the Sino-German economic and cooperation agreement signed during German Chancellor Angela Merkel's current visit to China. The German auto company will invest in building an auto parts factory in the coastal city in China, according to the agreement. Volkswagen AG didn't release the financial details of the deal. This move indicates that Volkswagen AG remains optimistic about the future of China's automobile market, according to officials from the Tianjin Economic and Technological Development Area's management committee.

NANDEHUTU: It is unlikely there will be a vehicle purchase quota policy in Tianjin in the short term.

GOTOBRUNEI: We have almost been submerged by automobiles on the road. So many cars lead to energy waste and environmental pollution. In order to achieve better GDP growth, the government continues to launch automobile initiatives at the moment. Aren't we advocating green travel now?

QINGXI: The car purchase restriction policy has been executed everywhere and people are competing for the license plates nowadays. Why yet another automobile factory project at the moment?

BUBUXING-CHERRY: If Volkswagen AG doesn't improve the quality of its products and service it won't develop further in China.

GAIMINGLEYA: Which automobile models will this factory produce then?

AIHUAVICKY: German Chancellor Angela Merkel is coming for money again.