SAIC Volkswagen to tap EV sector

JV's new facility in Shanghai to leverage plant automation trend

SAIC Volkswagen laid the groundwork for its electric vehicle plant in northwestern Shanghai on Friday, which will be Volkswagen AG's first facility of its kind globally.

Covering over 405,600 square meters, the new plant will have a total investment of 17 billion yuan ($2.45 billion). The factory is scheduled to start operation in October 2020, with an annual production capacity of 300,000 vehicles, according to VW.