Shanghai (Gasgoo)- Volkswagen Group China signed letters of intent with Chinese state-owned automaker FAW Group and China Intelligent and Connected Vehicles (Beijing) Research Institute Co. Ltd (ICV) on July 10 during the state visit of Chinese Premier Li Keqiang to Berlin. The agreements cover such areas as e-mobility, connectivity, mobility services and autonomous driving.
The aim of the partnership is to deepen the economic and trade cooperation between China and Germany and strengthen Volkswagen's leadership in EV mobility area.
Dr. Herbert Diess, the CEO of Volkswagen AG and Chairman of the Board of Management of the Volkswagen Passenger Car brand, said: “The car in the future will not just be powered by electricity. It will also be digitally connected and carry autonomous driving functions. This will help to avert accidents, alleviate traffic congestion and violently reduce noise pollution and gas emissions. By expanding the partnerships in China, Volkswagen Group hopes to reinforce its position in China's market.”
Under the newly-signed letters of intent, Volkswagen Group and FAW Group will establish another two new joint ventures in China. The partnership involves such works as developing and producing components for new energy vehicles (NEV), expanding vehicle connectivity and automotive data services and enhancing autonomous driving. Meanwhile, the cooperative plans also include developing a national battery-charging infrastructure in China and other businesses that pertain to it.
According to a report in early May, Volkswagen Group and Chinese ride-hailing giant Didi Chuxing had agreed a deal to set up a joint venture in order to share technologies and develop mobility services in China, signifying the first step for a broad-based alliance between the world's largest automaker by sales and the Chinese unicorn in ride-hailing.
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