Tuesday, 21 August, 2018

Audi looks to double China production with partner FAW in five years

2019 Volkswagen Lavida 2018 VW Lavida Debuts In Beijing With Oh-So Familiar Design
Kelvin Reese | 29 April, 2018, 21:54

It calls for phasing out by 2022 the Beijing government's requirement that any foreign automaker that wants to make cars in China do so through a 50-50 joint venture with a Chinese vehicle company.

China is also embarking on a rare policy drive to open up its auto market, the world's largest, even as its own home-grown vehicle makers become increasingly ambitious overseas.

BAIC Group's announcement at the Beijing auto show, the industry's biggest sales event of the year, came as Nissan unveiled its first electric vehicle designed for China while General Motors displayed Buick SUV it says can go 600 kilometers (375 miles) on one charge.

To capitalize on the world's biggest automobile market and a population of over 1.3 billion people, many carmakers, including those from Japan and Europe, are eager to boost sales of EVs in China.

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Guests will begin arriving at the Washington Hilton at around 5:30 p.m. for the pre-parties, and the dinner is scheduled to start at 7:30 p.m.

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The carmaker also wants to produce battery-powered cars in 6 factories based in China in coming three years. The limit generally for passenger-car producers will end in 2022. Xu said it would have an annual production capacity of 100,000 vehicles but he gave no details of how much of the manufacturing would be done in South Africa. And foreign auto companies have found making cars in China for local drivers quite profitable. Those include a GM SUV, the Envision, and Volvo Cars sedans made in China for export to the United States.

The challenges for Volkswagen include developing models that attract buyers, as well as dealing with consumers' changing attitudes towards auto ownership and mobility services.

Volkswagen is "well set up" with its Chinese partnerships and doesn't plan any change in the ventures' ownership, Diess said. It is one of the leading automobile markets in the world.

That trend has been propelled by the ruling Communist Party's support for the technology. The companies have already moved their production and auto-parts supply chains to China. The size of the Chinese auto market is anticipated to reach the United States and European Union jointly with total sales figures reaching 28.9 Million units in the previous year. It also stated that it will also introduce a new electric vehicle brand with an alliance with a local partner. First-quarter sales rose 11.3 percent over a year earlier to 2.6 million, or nearly 45 percent of total auto sales, according to the China Association of Automobile Manufacturers.

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