German automaker Volkswagen Group has signed joint declarations with its Chinese joint venture partners SAIC Motor and First Automotive Works (FAW) Group to work collaboratively in the field of forward-looking technologies.
Under the agreements, Volkswagen will develop eco-friendly models and a joint research project for Shanghai Volkswagen (SVW).
It will also develop and produce a new, eco-friendly vehicle in China in collaboration with FAW.
Volkswagen board of management member Jochem Heizmann said that Volkswagen has already been a reliable partner for the People's Republic of China for 30 years.
"We will continue to set the standard in the Chinese automotive industry with highly-efficient engines and forward-looking technologies," Heizmann added.
In addition, the agreement includes further expansion of the production capacity at the FAW-Volkswagen joint venture. Volkswagen will install the technical capacity to produce over four million vehicles per year in China by 2018.
