Rearview mirror: Car industry's hot topics in 2017

China Daily | Updated: 2018-01-08 13:19
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The Sino-German auto joint venture FAW-Volkswagen Automotive's new Golf is exhibited in Nanjing, Jiangsu province, Feb 12, 2017. [Photo by Zhen Huai/For China Daily]

2. VW signs 3rd local joint venture

Volkswagen became the first international brand to have three passenger car joint ventures in China when the German automaker signed a deal with Anhui Jianghuai Automobile Co in June. The 50-50 partnership, which is dedicated to developing and producing electric cars, will see a total investment of 6 billion yuan ($882 million). Its first model, which will be produced at existing JAC facilities, is expected to roll off the assembly line in 2018. That would give VW a head start to become the first localized electric car producer in the country, ahead of its rivals such as General Motors.

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