Volkswagen China says will form ventures with Huayou Cobalt, Tsingshan Group -Breaking
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© Reuters. FILE PHOTO – A charging point for an electric Volkswagen Passat is shown at the Volkswagen dealer in Berlin on February 2, 2016, as well as the charging cord. REUTERS/Fabrizio BenschSHANGHAI (Reuters), Volkswagen (DE) Group China stated Monday it will form joint ventures (with Huayou Cobalt, Tsingshan Group) to increase its market share in China’s emobility sector and strengthen its leadership position in the supply chain.
According to a statement, the companies have signed memorandums establishing strategic alliances.
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