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VW studies stake rise in FAW JV
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Volkswagen is considering increasing its stake in its car joint venture with China’s state-owned FAW Group, VW Chief Executive Martin Winterkorn was quoted yesterday as saying.
“Volkswagen and FAW want to extend their partnership. We are examining right now various possibilities on how we can expand our cooperation,” Winterkorn said in an interview with Frankfurter Allgemeine Sonntagszeitung.
“One possibility would be to increase our stake in the joint venture with FAW from 40 percent to 50 percent. We are in talks about it,” he said.
The joint venture, which expires in 2016, makes VW and Audi cars. VW also operates a car venture with China’s SAIC Motor Corp.
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