FAW-Volkswagen will invest €298 million to produce three SUV models at the Tianjin factory in northern China, according to a cooperation agreement signed on Wednesday.
The agreement, signed by the management committee of the economic-technological development area of Tianjin and FAW-Volkswagen, a joint venture between the Chinese state-owned FAW and VW, foresees the production of three models, two of which powered by new energies, to begin in 2026, as reported by the official Xinhua news agency.
The three models will be from Audi or Volkswagen and will give a “strong boost to the high-quality development of the new energy automobile industry and connected intelligent vehicles”, the agency pointed out.
The German brand, along with FAW, currently has over 100 factories worldwide, 20 of which are in China.
It is worth noting that in August 2018, the German company opened the factory in Tianjin, where it produces VW and Audi models (including hybrid versions) with a production capacity of 1200 units per day and 300,000 units per year.
