VW China unveils 2018 strategy

Volkswagen Group China (VW China) announced its 2018 strategy in Beijing, under which Shanghai Volkswagen Automotive Co. Ltd. (Shanghai VW) and FAW-Volkswagen Automobile Company Ltd. (FAW-VW), the group’s two joint ventures in China, will pool their efforts for the Chinese market. VW China’s long-term strategy requires it to bring the number of its sales outlets to not less than 2,000, introduce at least 40 new models, and sell two million vehicles in China by 2018. Under the new strategy, Shanghai VW will focus on European sales, while FAW-VW will be in charge of the local market. (March 2, 2009)