While China may be grabbing an increasingly large amount of market share from German engineering companies, home-grown Volkswagen is still making large sums from its operations in China, a fact most recently illustrated by Volkswagen’s plans to create a new brand low cost vehicle in China.
In an in interview this week, Karl-Thomas Neumann, VW’s head of China, confirmed plans to build small cars with one of its two Chinese partners that cost less than €8000 under a yet to be named brand.
The move adds to a growing trend of Western industrial companies trying to tap China’s vast market for affordable products.
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