FAW-Volkswagen unveils production plans for 3 SUV models in China’s Tianjin
Date
5/16/2024 5:38:51 AM
(MENAFN) In a significant development for the automotive industry, FAW-Volkswagen Automobile Co., Ltd. has announced plans to invest more than 2.3 billion yuan, equivalent to around 324 million U.S. dollars, to start production of 3 SUV models at its manufacturing facility situated in Tianjin Municipality, located in northern China. This substantial investment commitment was formalized through the signing of a cooperation agreement on Wednesday, which brought together the management committee of the Tianjin Economic-Technological Development Area and FAW-Volkswagen, a joint venture formed between China FAW Group Co., Ltd. and renowned German automaker Volkswagen.
Expected to commence production in 2026, the introduction of these three SUV models marks a strategic move towards bolstering the electric vehicle segment, with two of the models falling under the category of new energy vehicles. This initiative not only underscores a commitment to innovation but also reflects a broader industry trend towards sustainable transportation solutions. Furthermore, all three models are set to bear the prestigious Audi or Volkswagen branding, signifying a dedication to delivering premium-quality vehicles that meet the discerning needs of consumers.
The introduction of these SUV models is poised to impart significant momentum to the burgeoning automotive landscape in Tianjin, particularly within the realms of new energy and intelligent connected vehicles. As articulated by Hong Shicong, director of the management committee overseeing the development area, the rollout of these vehicles is expected to catalyze the high-quality advancement of Tianjin's automotive sector, positioning it as a key player in the future of automotive innovation and sustainability.
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