Auto companies turn spotlight on China
12/11/2014
French parts supplier Faurecia said it will invest €400 million in the country over the next four years and is aiming to double sales to €4 billion from €2.3 billion. It currently has 38 plants in China.
Reuters has also reported that Volkswagen’s talks to increase its share in a joint venture with Chinese partner FAW SASACJ.UL from 40% to 50% have stalled, citing two sources familiar with the matter. VW sells about 40% of its vehicles in the country.
China’s Association of Automobile Manufacturers recently predicted growth of 7% in the market this year; half the rate of last year.
Share this story:
