Earlier this year China announced it was relaxing rules around foreign Joint Ventures [JV] in China. Previously, foreign firms had been restricted to a 50/ 50 share.
Among the first of the foreign firms to take advantage of this were the German automotive maker giants BMW and VW . Earlier BMW had moved to take control of its JV “Brilliance Auto” in Liaoning, North China.
VW on the other hand used the opportunity to underscore its commitment and promise t focus on New Energy models in China by increasing its investmetnin two of its JV and buying into a China electric battery maker.
This seems to idicare thn VW is confident in both its promise to delver 1.5 million new energy vehicles to the China market by 2025 plus and its prediction that China’s New Energy vehicle market would continue to grow rapidly.
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