Volkswagen intends to release a new brand for a Chinese car market
One of the largest German automotive companies Volkswagen AG announced the creation of a new brand of a budget car specifically for implementation in the Chinese market.
On the part of the Chinese government, this initiative has gained support, since it is planned to develop technology for assembling new cars together with Chinese partners. For the Germans, in turn, it is important to conquer the most rapidly developing car market in the world.
According to the Automotive News publication, to keep the leading position in China, the German giant of the Volkswagen AG Automating Automobiles is going to launch a new brand of budget car to the domestic market of this Asian country. “At this time, we are discussing such an opportunity with our long -standing partner of First Auto Works. The issue of our obligations regarding the development of a new brand is considered to replenish the cheap cars in the Chinese market, ”Veiming SOh, who holds the position of vice president of Volkswagen AG, responsible for the sale of cars in China.
This decision of German automakers is very relevant, since many world brands have already introduced new budget brands of cars in the Chinese car market. At the attraction of recent times, General Motors, Nissan, and also Honda were engaged in this.
The German company claims that the creation of a new brand is expected to increase production, which in 2018 should be about 4 million cars. To date, Volkswagen is already engaged in the construction of two new automobile assemblies in China, and also expands production capacities at seven available factories. At new enterprises, it is planned to start working with the annual production of 300 thousand cars. However, the design of each of them has the ability to expand the production of cars up to 600 thousand annually. According to the certification of Mr. Soch, cars will begin to assemble at new enterprises after 2-3 years.
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