Volkswagen, Chinese partner SAIC to sell joint venture plant in west China's Xinjiang

Quick Summary:

They've also extended their joint venture to 2040 and plan to accelerate EV production, launching 18 new models, including eight EVs, by 2030.

Volkswagen and SAIC Motor are selling their Xinjiang factory following human rights concerns.

The Xinjiang plant sale preserves existing jobs and comes amid Western governments' moves to impose higher tariffs on Chinese EVs.

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Article Details

Author / Journalist: AP

Category: EconomyBusiness

Markets: IndiaChina

Topics: Joint venture Xinjiang factory Volkswagen SAIC Motor Electric vehicles

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-27 @ 21:40:24 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 792 words

Reading Time: 5 minutes read

Sentences: 30 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 23906405

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