VW to increase its share in the Chinese Faw
The Beijing government, which controls the Chinese Group, has given a green light to Volkswagen to increase its stake in First Auto Works. The German company currently manages 40% and aims to rise up to 50% thanks to an investment of about 5 billion Euro.
VW and FAW had set up internal working groups to evaluate the move. The VW Group is very strong in China (thanks also to another joint venture with SAIC) and in 2014 has sold 3.7 million units.