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Volkswagen: Buying additional factory from Fiat in China

VW
Volkswagen will buy an additional factory from Fiat in China to fulfill the increasing demand for their cars.

Shanghai VW, Volkswagen’s 50-50 joint venture with Shanghai Automotive Industry Corp (SAIC), is expected to acquire the remaining assets of Fiat’s passenger car joint venture Nanjing Fiat, according to SAIC.

‘Preparations for Shanghai VW to assemble its current car models at Nanjing Fiat are ongoing,’ SAIC said in a statement posted on its website.

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Source: Forbes