Volkswagen AG says it will invest €240 million ($278.3 million) in a new joint venture with Shanghai Automotive Industry Corp. to boost its engine production capacity in China by 50%. The venture calls for VW and SAIC to build a new facility to produce 180,000 engines once initial construction is completed in March 2005. Total output ultimately is expected to rise to 300,000 units. The engines mainly will be used in VW’s Polo model The factory will be owned jointly by the two auto ...
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