Germany: Investment of 290 million in China

The consortium FAW-Volkswagen Automobile Co. will invest more than 2.3 billion yuan (290 million euros) to start production of three SUV models at its factory in the northern Chinese city of Tianjin, according to a cooperation agreement. It is a joint venture between China FAW Group Co. Ltd. and the German automobile industry. Production of the three SUV models, two of which are new energy vehicles (NEVs), is expected to begin in 2026.

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